Fifth Third Wealth Advisors LLC Raises Position in ServiceNow, Inc. (NYSE:NOW)

Fifth Third Wealth Advisors LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,923 shares of the information technology services provider’s stock after buying an additional 83 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in ServiceNow were worth $2,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of ServiceNow during the third quarter worth about $30,000. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. Oakworth Capital Inc. lifted its position in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new position in ServiceNow in the 2nd quarter worth approximately $39,000. Finally, Dunhill Financial LLC increased its holdings in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after buying an additional 21 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % 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, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,276 shares of company stock valued at $20,535,115. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler upped their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. UBS Group increased their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Citigroup boosted their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada lifted their target price on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,071.39.

ServiceNow Trading Up 1.4 %

NOW opened at $1,029.85 on Wednesday. The stock has a market cap of $212.15 billion, a PE ratio of 160.16, a PEG ratio of 6.43 and a beta of 0.99. The business has a 50 day moving average of $1,066.34 and a 200-day moving average of $927.52. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the firm earned $1.21 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.