Trustmark National Bank Trust Department Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Trustmark National Bank Trust Department lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 96.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,591 shares of the information technology services provider’s stock after purchasing an additional 781 shares during the quarter. Trustmark National Bank Trust Department’s holdings in ServiceNow were worth $1,423,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NOW. Avidian Wealth Enterprises LLC increased its position in shares of ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after buying an additional 138 shares in the last quarter. Venturi Wealth Management LLC raised its position in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after acquiring an additional 765 shares during the period. AXA S.A. grew its position in shares of ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the period. HWG Holdings LP purchased a new stake in shares of ServiceNow during the second quarter worth about $2,679,000. Finally, Brookstone Capital Management raised its position in shares of ServiceNow by 25.5% during the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after purchasing an additional 2,928 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In related news, Director Jeffrey A. Miller sold 2,879 shares of the company’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 completion of the sale, the director now owns 42,920 shares in the company, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,373 shares of company stock worth $7,139,335. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.1 %

Shares of NYSE:NOW opened at $1,022.98 on Thursday. The firm has a market capitalization of $210.73 billion, a PE ratio of 159.10, a price-to-earnings-growth ratio of 5.87 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s 50-day moving average is $941.65 and its two-hundred day moving average is $830.81.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company 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 firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. Analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Oppenheimer increased their price objective on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Barclays lifted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Mizuho raised their price target on shares of ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Truist Financial upped their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $986.39.

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.