Citizens National Bank Trust Department Has $3.60 Million Stock Position in ServiceNow, Inc. $NOW

Key Points

• Citizens National Bank Trust Department boosted its stake in ServiceNow by 420.7% in Q4 to 23,526 shares (an additional 19,008 shares) worth about $3.60 million, and several other institutions also made large buys leaving institutional ownership at ~87.18%.
• ServiceNow reported $0.97 EPS (in line with consensus) and $3.77 billion in revenue (+22.1% YoY); the stock trades near $90.50 with a $93.3 billion market cap, a PE of ~54, and a 52‑week range of $81.24–$211.48.
• Analysts have trimmed price targets recently though the consensus remains a “Moderate Buy” with an average target of $146.65, while insiders have sold ~16,237 shares (~$1.7M) in the past three months, representing 0.34% insider ownership.

Citizens National Bank Trust Department grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 420.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,526 shares of the information technology services provider's stock after buying an additional 19,008 shares during the period. Citizens National Bank Trust Department's holdings in ServiceNow were worth $3,604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cohen Klingenstein LLC lifted its position in ServiceNow by 400.0% in the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after acquiring an additional 8,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in ServiceNow by 385.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock valued at $398,202,000 after acquiring an additional 2,064,440 shares in the last quarter. Natural Investments LLC lifted its position in ServiceNow by 332.0% in the 4th quarter. Natural Investments LLC now owns 16,453 shares of the information technology services provider's stock valued at $2,520,000 after acquiring an additional 12,644 shares in the last quarter. Focus Financial Network Inc. lifted its position in ServiceNow by 286.1% in the 4th quarter. Focus Financial Network Inc. now owns 53,650 shares of the information technology services provider's stock valued at $8,219,000 after acquiring an additional 39,756 shares in the last quarter. Finally, Telos Capital Management Inc. lifted its position in ServiceNow by 706.0% in the 4th quarter. Telos Capital Management Inc. now owns 50,940 shares of the information technology services provider's stock valued at $7,803,000 after acquiring an additional 44,620 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Up 0.4%

Shares of NYSE:NOW opened at $90.50 on Tuesday. The company's 50-day moving average price is $104.51 and its two-hundred day moving average price is $136.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The stock has a market capitalization of $93.30 billion, a PE ratio of 53.93, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same period in the previous year, the firm posted $0.81 EPS. The company's revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 2.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOW. Piper Sandler cut their price objective on shares of ServiceNow from $200.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. BMO Capital Markets cut their price objective on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Mizuho cut their price objective on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Citizens Jmp cut their price objective on shares of ServiceNow from $260.00 to $157.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 23rd. Finally, Benchmark started coverage on shares of ServiceNow in a research report on Wednesday, April 1st. They issued a "buy" rating and a $125.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.65.

Insiders Place Their Bets

In other news, insider Kevin Thomas Mcbride sold 1,400 shares of the company's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the sale, the insider directly owned 26,314 shares of the company's stock, valued at approximately $2,781,652.94. This represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction of $151,755.00. Following the completion of the sale, the director directly owned 46,430 shares in the company, valued at approximately $4,697,323.10. The trade was a 3.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,237 shares of company stock valued at $1,697,162 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Company Profile

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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