Huntington National Bank Purchases 434,761 Shares of ServiceNow, Inc. $NOW

Huntington National Bank increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 397.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 544,257 shares of the information technology services provider's stock after buying an additional 434,761 shares during the period. Huntington National Bank owned 0.05% of ServiceNow worth $83,375,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NOW. Brighton Jones LLC boosted its holdings in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after buying an additional 30 shares during the period. Sivia Capital Partners LLC raised its stake in ServiceNow by 4.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after purchasing an additional 34 shares during the last quarter. United Bank raised its stake in ServiceNow by 15.5% during the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider's stock valued at $1,562,000 after purchasing an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its stake in ServiceNow by 2.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock valued at $1,976,000 after purchasing an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC raised its stake in ServiceNow by 205.1% during the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock valued at $931,000 after purchasing an additional 609 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on NOW. Wall Street Zen cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. KeyCorp set a $85.00 target price on shares of ServiceNow and gave the company an "underweight" rating in a research note on Thursday, April 23rd. Stifel Nicolaus cut their target price on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Benchmark began coverage on shares of ServiceNow in a research note on Wednesday, April 1st. They set a "buy" rating and a $125.00 target price for the company. Finally, Canaccord Genuity Group cut their target price on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $141.85.

ServiceNow Trading Up 2.2%

Shares of NOW stock opened at $102.15 on Thursday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The stock has a market cap of $105.31 billion, a price-to-earnings ratio of 60.87, a P/E/G ratio of 1.65 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a fifty day moving average of $98.00 and a 200-day moving average of $124.18.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the prior year, the company posted $0.81 EPS. The business's revenue was up 22.1% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reiterated ServiceNow as a top buy, saying AI is a growth engine for the company and highlighting it as better positioned than Salesforce. This kind of analyst support can lift investor sentiment. Article Title
• Positive Sentiment: A new Zacks article and broader market buzz show ServiceNow is trending with investors, suggesting renewed interest in the stock after recent weakness. Article Title
• Neutral Sentiment: ServiceNow presented at the Jefferies Software, Internet & AI Conference, keeping the company in focus but without any clearly reported new financial catalyst in the transcript headline alone. Article Title
• Neutral Sentiment: Market commentary about institutional order flows and software sector weakness provides broader context, but it is not a direct company-specific driver. Article Title
• Negative Sentiment: Recent coverage also notes that investors remain worried AI could disrupt ServiceNow’s business model, and the stock had already fallen sharply earlier in the week after margin concerns despite a revenue beat. Article Title

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company's stock.

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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