ServiceNow, Inc. (NYSE:NOW) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,756 shares of the information technology services provider’s stock after selling 2,252 shares during the period. Cullen Frost Bankers Inc.’s holdings in ServiceNow were worth $50,695,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. AdvisorNet Financial Inc raised its position in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the period. Disciplined Equity Management Inc. acquired a new stake in ServiceNow in the 4th quarter valued at $35,000. Fortitude Family Office LLC purchased a new position in ServiceNow in the fourth quarter valued at about $41,000. Oliver Lagore Vanvalin Investment Group boosted its position in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 11,369 shares of company stock worth $8,538,300 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on NOW. Jefferies Financial Group boosted their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Royal Bank of Canada raised their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Needham & Company LLC restated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research note on Tuesday. Finally, Truist Financial lifted their target price on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $807.88.

ServiceNow Stock Performance

Shares of NYSE:NOW traded down $13.03 during trading on Tuesday, hitting $713.53. 1,552,504 shares of the company traded hands, compared to its average volume of 1,227,506. The stock has a market capitalization of $146.54 billion, a price-to-earnings ratio of 76.31, a PEG ratio of 4.50 and a beta of 0.98. ServiceNow, Inc. has a one year low of $429.05 and a one year high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The business’s fifty day moving average is $751.22 and its 200-day moving average is $717.54.

ServiceNow Profile

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.