Huntington National Bank Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Huntington National Bank grew its stake in ServiceNow, Inc. (NYSE:NOW) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,427 shares of the information technology services provider’s stock after purchasing an additional 3,459 shares during the period. Huntington National Bank’s holdings in ServiceNow were worth $86,244,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Catalyst Financial Partners LLC raised its position in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares in the last quarter. First Affirmative Financial Network increased its holdings in shares of ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after acquiring an additional 12 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 12 shares during the period. Morling Financial Advisors LLC grew its stake in ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares during the last quarter. Finally, CX Institutional grew its stake in ServiceNow by 1.2% during the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after buying an additional 13 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 0.3 %

ServiceNow stock opened at $1,045.53 on Thursday. The firm has a market cap of $215.38 billion, a PE ratio of 162.60, a P/E/G ratio of 6.02 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 firm’s 50 day moving average price is $920.45 and its two-hundred day moving average price is $818.12. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66.

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

Insider Buying and Selling at ServiceNow

In other news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,259 shares of company stock worth $4,955,741. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NOW has been the topic of several research analyst reports. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Mizuho lifted their price target on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays lifted their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $974.04.

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.