Intrust Bank NA Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Intrust Bank NA boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,380 shares of the information technology services provider’s stock after purchasing an additional 79 shares during the period. Intrust Bank NA’s holdings in ServiceNow were worth $1,463,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Atala Financial Inc purchased a new stake in ServiceNow during the fourth quarter worth about $28,000. Truvestments Capital LLC bought a new position in shares of ServiceNow during the 3rd quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC purchased a new position in ServiceNow in the fourth quarter valued at approximately $34,000. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Trading Down 3.8 %

NYSE NOW opened at $796.61 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $950.30 and its two-hundred day simple moving average is $983.23. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a market capitalization of $164.10 billion, a price-to-earnings ratio of 116.63, a PEG ratio of 4.51 and a beta of 1.03.

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

ServiceNow declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have issued reports on NOW shares. Jefferies Financial Group decreased their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Truist Financial lifted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Needham & Company LLC boosted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Canaccord Genuity Group reiterated a “buy” rating and set a $1,275.00 target price on shares of ServiceNow in a research report on Tuesday, March 11th. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,093.76.

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.