Fifth Third Bancorp Has $75.98 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Fifth Third Bancorp increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,436 shares of the information technology services provider's stock after purchasing an additional 7,534 shares during the period. Fifth Third Bancorp's holdings in ServiceNow were worth $75,980,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NOW. Brighton Jones LLC grew 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 worth $2,919,000 after purchasing an additional 30 shares during the period. Union Bancaire Privee UBP SA acquired a new position in ServiceNow in the fourth quarter valued at about $48,802,000. Savant Capital LLC grew its stake in ServiceNow by 9.3% in the fourth quarter. Savant Capital LLC now owns 2,924 shares of the information technology services provider's stock valued at $3,100,000 after acquiring an additional 248 shares during the period. Stonebridge Financial Group LLC acquired a new position in ServiceNow in the fourth quarter valued at about $37,000. Finally, Sovran Advisors LLC acquired a new position in ServiceNow in the fourth quarter valued at about $673,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Canaccord Genuity Group decreased their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and boosted their target price for the company from $950.00 to $1,200.00 in a research note on Thursday, May 1st. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. TD Securities reaffirmed a "buy" rating and set a $1,100.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,716 shares of company stock worth $6,611,245. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW traded up $1.70 on Thursday, hitting $1,006.03. The company's stock had a trading volume of 846,899 shares, compared to its average volume of 1,480,444. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $933.88 and a two-hundred day moving average of $974.34. The firm has a market capitalization of $208.23 billion, a P/E ratio of 147.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 earnings per share. Research analysts predict 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.