Stock Yards Bank & Trust Co. Acquires 336 Shares of ServiceNow, Inc. $NOW

Stock Yards Bank & Trust Co. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 67.7% in the second quarter, HoldingsChannel reports. The firm owned 832 shares of the information technology services provider’s stock after buying an additional 336 shares during the period. Stock Yards Bank & Trust Co.’s holdings in ServiceNow were worth $855,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock worth $15,522,335,000 after acquiring an additional 297,734 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in ServiceNow by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock worth $2,263,519,000 after acquiring an additional 188,292 shares during the last quarter. Nuveen LLC acquired a new stake in ServiceNow during the first quarter worth approximately $1,817,535,000. Alliancebernstein L.P. lifted its position in ServiceNow by 16.2% during the first quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock worth $1,379,461,000 after acquiring an additional 242,132 shares during the last quarter. Finally, Amundi lifted its position in ServiceNow by 61.9% during the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock worth $1,269,777,000 after acquiring an additional 626,623 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NOW shares. UBS Group cut their price objective on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. FBN Securities upgraded shares of ServiceNow to a “strong-buy” rating in a research report on Wednesday, June 11th. Bank of America lifted their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Guggenheim reiterated a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

ServiceNow Stock Up 0.2%

NYSE NOW opened at $911.75 on Friday. The business has a fifty day moving average price of $914.67 and a two-hundred day moving average price of $929.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The stock has a market capitalization of $189.64 billion, a PE ratio of 114.83, a PEG ratio of 4.11 and a beta of 0.92.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the company earned $3.13 earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. Equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Fipps sold 1,452 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the transaction, the insider owned 457 shares of the company’s stock, valued at $409,037.85. This trade represents a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,737 shares of company stock valued at $16,798,825. Corporate insiders own 0.38% of the company’s stock.

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.