ServiceNow, Inc. $NOW Stock Holdings Lifted by Thomasville National Bank

Key Points

• Thomasville National Bank increased its holdings in ServiceNow, Inc. by 2.0%, owning 16,265 shares valued at approximately $16.72 million as of the latest SEC filing.
• Multiple institutional investors, including Vanguard Group and UBS AM, have significantly increased their stakes in ServiceNow, with 87.18% of the stock owned by institutional investors.
• Analyst ratings for ServiceNow show a strong consensus with a majority giving a "buy" rating and a price target range between $1,100.00 and $1,225.00, reflecting a moderate buy sentiment.

Thomasville National Bank lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,265 shares of the information technology services provider's stock after acquiring an additional 313 shares during the period. Thomasville National Bank's holdings in ServiceNow were worth $16,722,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after purchasing an additional 297,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of ServiceNow by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider's stock worth $2,263,519,000 after purchasing an additional 188,292 shares during the period. GAMMA Investing LLC boosted its holdings in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. Nuveen LLC acquired a new stake in shares of ServiceNow during the first quarter worth approximately $1,817,535,000. Finally, Alliancebernstein L.P. boosted its holdings in shares of ServiceNow by 16.2% during the first quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider's stock worth $1,379,461,000 after purchasing an additional 242,132 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the sale, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company's stock, valued at $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock valued at $17,049,775 in the last three months. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. Bank of America raised their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Mizuho raised their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Piper Sandler lifted their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $963.21 on Friday. The firm has a fifty day simple moving average of $922.60 and a 200-day simple moving average of $923.38. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock has a market capitalization of $200.35 billion, a price-to-earnings ratio of 121.31, a PEG ratio of 4.27 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 for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the previous year, the company earned $3.13 earnings per share. ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current 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.

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