M&T Bank Corp Acquires 774 Shares of ServiceNow, Inc. (NYSE:NOW)

M&T Bank Corp lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,631 shares of the information technology services provider's stock after acquiring an additional 774 shares during the period. M&T Bank Corp's holdings in ServiceNow were worth $29,164,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Quarry LP bought a new position in shares of ServiceNow in the fourth quarter worth $27,000. Atala Financial Inc bought a new position in shares of ServiceNow in the fourth quarter worth $28,000. WASHINGTON TRUST Co grew its stake in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow during the fourth quarter worth about $32,000. Finally, Heck Capital Advisors LLC acquired a new position in ServiceNow during the fourth quarter worth about $37,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 145 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the transaction, the insider owned 3,027 shares in the company, valued at approximately $3,087,540. This trade represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anita M. Sands sold 239 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total value of $250,950.00. Following the transaction, the director owned 10,404 shares in the company, valued at approximately $10,924,200. This trade represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,955 shares of company stock valued at $6,862,195. 0.38% of the stock is owned by company insiders.

ServiceNow Trading Down 3.1%

Shares of ServiceNow stock traded down $30.99 during trading on Thursday, reaching $982.73. 938,722 shares of the company were exchanged, compared to its average volume of 1,476,364. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The business has a 50-day moving average price of $1,008.69 and a 200-day moving average price of $962.58. The firm has a market capitalization of $203.40 billion, a price-to-earnings ratio of 133.25, a P/E/G ratio of 4.70 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the firm earned $3.41 earnings per share. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NOW shares. Evercore ISI lifted their target price on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. BMO Capital Markets lifted their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Citigroup upped their target price on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

About ServiceNow

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.