Hills Bank & Trust Co Acquires 325 Shares of ServiceNow, Inc. (NYSE:NOW)

Hills Bank & Trust Co boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 159.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 529 shares of the information technology services provider’s stock after acquiring an additional 325 shares during the quarter. Hills Bank & Trust Co’s holdings in ServiceNow were worth $561,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Polymer Capital Management HK LTD grew its holdings in ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after purchasing an additional 981 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the fourth quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. grew its holdings in ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after purchasing an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. acquired a new position in ServiceNow during the fourth quarter valued at approximately $105,090,000. Finally, Rheos Capital Works Inc. acquired a new position in ServiceNow during the fourth quarter valued at approximately $10,071,000. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on NOW. JPMorgan Chase & Co. increased their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective on the stock. UBS Group lowered their price objective on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Finally, StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,114.24.

Insider Activity at ServiceNow

In related news, 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 completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 over the last ninety days. 0.25% of the stock is owned by insiders.

ServiceNow Stock Up 4.2 %

Shares of NYSE NOW opened at $845.75 on Friday. The stock has a market cap of $174.22 billion, a PE ratio of 123.83, a PEG ratio of 4.51 and a beta of 1.03. The business has a fifty day moving average of $992.95 and a two-hundred day moving average of $984.50. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) 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 research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has initiated a stock buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

About ServiceNow

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.