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

by · The Markets Daily

Hancock Whitney Corp raised its position in ServiceNow, Inc. (NYSE:NOW – Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,486 shares of the information technology services provider’s stock after acquiring an additional 19 shares during the quarter. Hancock Whitney Corp’s holdings in ServiceNow were worth $1,575,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock worth $20,353,517,000 after acquiring an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. FMR LLC increased its holdings in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after buying an additional 272,506 shares during the last quarter. Geode Capital Management LLC raised its stake in ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock valued at $4,560,890,000 after buying an additional 100,670 shares in the last quarter. Finally, Norges Bank purchased a new stake in ServiceNow during the 4th quarter worth about $2,603,360,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial lowered their price target on ServiceNow from $1,100.00 to $950.00 and set a “hold” rating for the company in a report on Monday, March 31st. Evercore ISI increased their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup reduced their price target on shares of ServiceNow from $1,426.00 to $1,082.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Mizuho decreased their target price on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,032.94.

View Our Latest Report on NOW

Insider Buying and Selling at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,282 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $1,030.64, for a total value of $2,351,920.48. Following the sale, the director now directly owns 40,638 shares in the company, valued at $41,883,148.32. This represents a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,250 shares of company stock worth $19,853,273. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

NOW opened at $946.08 on Friday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock has a market cap of $195.84 billion, a P/E ratio of 138.52, a P/E/G ratio of 4.51 and a beta of 1.08. The stock’s 50 day simple moving average is $838.68 and its 200 day simple moving average is $967.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW – Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has approved a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

ServiceNow Profile

(Free Report)

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.

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