ServiceNow, Inc. (NYSE:NOW) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,425 shares of the information technology services provider’s stock after selling 105 shares during the period. Hancock Whitney Corp’s holdings in ServiceNow were worth $1,086,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares during the period. Jennison Associates LLC grew its stake in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after acquiring an additional 53,719 shares during the period. Norges Bank purchased a new stake in shares of ServiceNow during the 4th quarter valued at $1,648,259,000. Massachusetts Financial Services Co. MA grew its stake in shares of ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after buying an additional 81,028 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Insiders have sold 7,330 shares of company stock worth $5,482,012 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. JMP Securities boosted their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. TD Cowen boosted their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group lifted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $842.22.

ServiceNow Trading Down 5.0 %

NYSE NOW traded down $40.74 on Friday, hitting $770.64. 576,940 shares of the stock were exchanged, compared to its average volume of 1,330,244. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $850.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $158.75 billion, a price-to-earnings ratio of 86.78, a P/E/G ratio of 4.84 and a beta of 0.99. The company’s 50-day moving average price is $746.92 and its two-hundred day moving average price is $753.39.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Research analysts predict that ServiceNow, Inc. will post 6.84 EPS for the current year.

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.