Parkside Financial Bank & Trust Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

Parkside Financial Bank & Trust lowered its position in ServiceNow, Inc. (NYSE:NOW) by 17.0% during the 4th quarter, HoldingsChannel reports. The firm owned 506 shares of the information technology services provider’s stock after selling 104 shares during the period. Parkside Financial Bank & Trust’s holdings in ServiceNow were worth $357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sandbox Financial Partners LLC increased its position in shares of ServiceNow by 8.6% in the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after purchasing an additional 66 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after acquiring an additional 49,631 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of ServiceNow by 5.9% in the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after acquiring an additional 18,442 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of ServiceNow by 15.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock valued at $18,175,000 after purchasing an additional 3,438 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of ServiceNow by 4.7% during the 4th quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock valued at $49,560,000 after purchasing an additional 3,154 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on NOW shares. BMO Capital Markets upped their price target on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Truist Financial boosted their price objective on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Oppenheimer raised their target price on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Finally, Wells Fargo & Company increased their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $780.37.

ServiceNow Price Performance

NOW traded down $0.23 during midday trading on Wednesday, hitting $740.72. 435,288 shares of the company traded hands, compared to its average volume of 1,169,382. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a market capitalization of $152.13 billion, a price-to-earnings ratio of 88.56, a PEG ratio of 4.56 and a beta of 0.97. The business has a 50 day simple moving average of $762.24 and a two-hundred day simple moving average of $706.46.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company posted $0.88 earnings per share. The business’s revenue was up 25.6% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

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.