ServiceNow, Inc. (NYSE:NOW) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 24.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,024 shares of the information technology services provider’s stock after purchasing an additional 201 shares during the quarter. OLD National Bancorp IN’s holdings in ServiceNow were worth $723,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Commerzbank Aktiengesellschaft FI raised its stake in shares of ServiceNow by 72.4% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 705 shares of the information technology services provider’s stock worth $498,000 after purchasing an additional 296 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of ServiceNow by 14.7% during the fourth quarter. Handelsbanken Fonder AB now owns 68,064 shares of the information technology services provider’s stock worth $48,087,000 after purchasing an additional 8,704 shares during the last quarter. CWM LLC raised its stake in shares of ServiceNow by 0.3% during the fourth quarter. CWM LLC now owns 23,031 shares of the information technology services provider’s stock worth $16,271,000 after purchasing an additional 70 shares during the last quarter. Riggs Asset Managment Co. Inc. purchased a new stake in shares of ServiceNow during the fourth quarter worth approximately $1,975,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of ServiceNow by 43.0% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 47,384 shares of the information technology services provider’s stock worth $33,484,000 after purchasing an additional 14,242 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NOW. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. The Goldman Sachs Group increased their price objective on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. UBS Group increased their price objective on ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Robert W. Baird increased their price objective on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Piper Sandler increased their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Stock Performance

ServiceNow stock opened at $740.95 on Wednesday. The stock’s 50-day moving average is $762.24 and its 200-day moving average is $706.46. The company has a market cap of $152.18 billion, a price-to-earnings ratio of 88.10, a price-to-earnings-growth ratio of 4.56 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now owns 994 shares in the company, valued at $776,373.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by company insiders.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.