UMB Bank n.a. Sells 5,308 Shares of ServiceNow, Inc. $NOW

Key Points

• UMB Bank n.a. reduced its holdings in ServiceNow, Inc. by 40.3%, selling 5,308 shares in the second quarter, leaving it with 7,866 shares valued at approximately $8.1 million.
• ServiceNow reported a 22.4% year-over-year revenue increase, earning $4.09 EPS in the latest quarter, which surpassed analysts' expectations of $3.57 EPS.
• Analysts have given ServiceNow a consensus rating of "Moderate Buy", with a target price averaging $1,115.20 following several upgrades in July.

UMB Bank n.a. lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 40.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,866 shares of the information technology services provider's stock after selling 5,308 shares during the period. UMB Bank n.a.'s holdings in ServiceNow were worth $8,087,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NOW. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after buying an additional 30 shares during the period. Two Sigma Investments LP grew its position in ServiceNow by 1.5% during the 4th quarter. Two Sigma Investments LP now owns 4,405 shares of the information technology services provider's stock valued at $4,670,000 after purchasing an additional 67 shares during the last quarter. Waverly Advisors LLC boosted its stake in ServiceNow by 110.0% during the 4th quarter. Waverly Advisors LLC now owns 1,842 shares of the information technology services provider's stock valued at $1,953,000 after purchasing an additional 965 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $19,944,000. Finally, Focus Partners Advisor Solutions LLC boosted its holdings in ServiceNow by 78.1% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 1,617 shares of the information technology services provider's stock worth $1,714,000 after purchasing an additional 709 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NOW traded down $19.76 during mid-day trading on Tuesday, hitting $928.02. The company's stock had a trading volume of 759,186 shares, compared to its average volume of 1,690,620. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock's 50-day moving average is $922.33 and its two-hundred day moving average is $924.52. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm has a market capitalization of $193.03 billion, a PE ratio of 117.03, a price-to-earnings-growth ratio of 4.33 and a beta of 0.91.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the business earned $3.13 earnings per share. The business's revenue was up 22.4% on a year-over-year basis. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares in the company, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares of the company's stock, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NOW. BMO Capital Markets lifted their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Jefferies Financial Group increased their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Mizuho lifted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Bank of America boosted their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, UBS Group lowered their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

ServiceNow 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.