Pinnacle Financial Partners Inc Sells 339 Shares of ServiceNow, Inc. (NYSE:NOW)

Pinnacle Financial Partners Inc reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% during the third quarter, HoldingsChannel reports. The firm owned 31,129 shares of the information technology services provider’s stock after selling 339 shares during the period. Pinnacle Financial Partners Inc’s holdings in ServiceNow were worth $27,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in NOW. Haverford Trust Co boosted its holdings in ServiceNow by 7.1% in the third quarter. Haverford Trust Co now owns 1,169 shares of the information technology services provider’s stock worth $1,046,000 after purchasing an additional 78 shares during the last quarter. Empower Advisory Group LLC boosted its stake in shares of ServiceNow by 1.2% in the 3rd quarter. Empower Advisory Group LLC now owns 3,416 shares of the information technology services provider’s stock worth $3,055,000 after buying an additional 40 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of ServiceNow by 20.7% in the third quarter. Aptus Capital Advisors LLC now owns 33,850 shares of the information technology services provider’s stock worth $30,275,000 after acquiring an additional 5,803 shares during the period. Prime Capital Investment Advisors LLC grew its stake in shares of ServiceNow by 8.8% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 12,925 shares of the information technology services provider’s stock valued at $11,560,000 after purchasing an additional 1,044 shares during the period. Finally, Proactive Wealth Strategies LLC purchased a new stake in shares of ServiceNow during the 3rd quarter valued at about $378,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 1.2 %

ServiceNow stock opened at $1,048.29 on Wednesday. ServiceNow, Inc. has a one year low of $632.25 and a one year high of $1,053.26. The stock has a market cap of $215.95 billion, a PE ratio of 163.03, a price-to-earnings-growth ratio of 5.95 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 50-day moving average of $920.45 and a two-hundred day moving average of $818.12.

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

Insider Transactions at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,359 shares of company stock worth $5,038,241 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on NOW shares. Royal Bank of Canada upped their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC upped their target price on shares of ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. KeyCorp raised their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Piper Sandler boosted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets upped their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $974.04.

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.