NBT Bank N A NY Has $1.15 Million Stake in ServiceNow, Inc. (NYSE:NOW)

NBT Bank N A NY boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 35.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,089 shares of the information technology services provider’s stock after acquiring an additional 283 shares during the period. NBT Bank N A NY’s holdings in ServiceNow were worth $1,154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. United Bank bought a new position in shares of ServiceNow during the 3rd quarter worth about $480,000. Mesirow Financial Investment Management Inc. increased its holdings in shares of ServiceNow by 6.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 391 shares of the information technology services provider’s stock worth $349,000 after purchasing an additional 24 shares during the period. Sigma Planning Corp increased its holdings in shares of ServiceNow by 72.0% during the 3rd quarter. Sigma Planning Corp now owns 4,703 shares of the information technology services provider’s stock worth $4,206,000 after purchasing an additional 1,969 shares during the period. Legacy Capital Wealth Partners LLC increased its holdings in shares of ServiceNow by 90.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 683 shares of the information technology services provider’s stock worth $611,000 after purchasing an additional 325 shares during the period. Finally, Baker Avenue Asset Management LP increased its holdings in shares of ServiceNow by 9.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 1,633 shares of the information technology services provider’s stock worth $1,460,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 8.1 %

NOW opened at $781.60 on Tuesday. The firm’s fifty day moving average is $1,011.72 and its two-hundred day moving average is $985.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $161.01 billion, a PE ratio of 114.44, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has initiated a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Truist Financial upped their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Robert W. Baird decreased their price objective on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, Citigroup decreased their price objective on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,129.72.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,080,123.85. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Company 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.