Zions Bancorporation N.A. Sells 35 Shares of ServiceNow, Inc. (NYSE:NOW)

Zions Bancorporation N.A. trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 536 shares of the information technology services provider’s stock after selling 35 shares during the quarter. Zions Bancorporation N.A.’s holdings in ServiceNow were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its holdings in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the period. Swedbank AB bought a new position in ServiceNow during the 1st quarter valued at approximately $897,908,000. AustralianSuper Pty Ltd purchased a new stake in ServiceNow in the 2nd quarter worth approximately $218,786,000. Acadian Asset Management LLC grew its position in shares of ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after buying an additional 271,073 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of ServiceNow by 59.4% during the second quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider’s stock valued at $500,258,000 after buying an additional 237,086 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 2.7 %

ServiceNow stock opened at $1,011.39 on Friday. The stock has a market cap of $208.35 billion, a PE ratio of 157.29, a price-to-earnings-growth ratio of 6.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty day moving average of $928.75 and a 200 day moving average of $821.23. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,061.66.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wells Fargo & Company raised their price target on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. BMO Capital Markets lifted their price objective on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Oppenheimer raised their target price on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Piper Sandler upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. This trade represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,325 shares of company stock worth $5,024,928 in the last 90 days. 0.25% of the stock is currently owned by insiders.

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.