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

M&T Bank Corp raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,631 shares of the information technology services provider's stock after acquiring an additional 774 shares during the quarter. M&T Bank Corp's holdings in ServiceNow were worth $29,164,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Janus Henderson Group PLC lifted its stake in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after buying an additional 12,533 shares during the last quarter. FMR LLC lifted its stake in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after buying an additional 272,506 shares during the last quarter. Nicholas Investment Partners LP lifted its stake in shares of ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock worth $2,974,000 after buying an additional 1,938 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ServiceNow by 18.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider's stock worth $209,103,000 after buying an additional 31,125 shares during the last quarter. Finally, Norges Bank acquired a new position in ServiceNow during the 4th quarter valued at $2,603,360,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the sale, the chief executive officer owned 6,614 shares of the company's stock, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 145 shares of the stock in a transaction dated 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 sale, the insider directly owned 3,027 shares in the company, valued at approximately $3,087,540. This represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,955 shares of company stock worth $6,862,195 in the last quarter. 0.38% of the stock is owned by corporate insiders.

ServiceNow Price Performance

Shares of NOW traded down $30.97 during trading hours on Friday, hitting $937.12. The stock had a trading volume of 2,110,295 shares, compared to its average volume of 1,482,955. The company's fifty day moving average is $1,008.88 and its two-hundred day moving average is $961.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock has a market capitalization of $193.97 billion, a price-to-earnings ratio of 127.33, a P/E/G ratio of 4.66 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. Barclays set a $1,085.00 target price on shares of ServiceNow in a research note on Wednesday, May 7th. Wall Street Zen cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research note on Tuesday. UBS Group reiterated a "buy" rating and set a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

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.