Stock Yards Bank & Trust Co. Has $855,000 Stock Position in ServiceNow, Inc. $NOW

Key Points

• Stock Yards Bank & Trust Co. increased its stake in ServiceNow, Inc. by 67.7% during the second quarter, now holding shares worth $855,000.
• Insider selling was notable, with Vice Chairman Nicholas Tzitzon and CFO Gina Mastantuono each selling over 1,700 shares in August, reflecting a 36.43% and 12.59% reduction in their holdings, respectively.
• ServiceNow reported $4.09 earnings per share for the last quarter, surpassing estimates, with revenue up 22.4% year-over-year, indicating strong financial performance despite recent stock volatility.

Stock Yards Bank & Trust Co. grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 67.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 832 shares of the information technology services provider's stock after purchasing an additional 336 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in ServiceNow were worth $855,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Bogart Wealth LLC raised its stake in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in ServiceNow during the 1st quarter worth $26,000. WASHINGTON TRUST Co raised its stake in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares during the period. Global X Japan Co. Ltd. acquired a new stake in ServiceNow during the 2nd quarter worth $30,000. Finally, Dagco Inc. acquired a new stake in ServiceNow during the 1st quarter worth $33,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at $10,594,950.60. The trade was a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock worth $16,798,825 over the last three months. Company insiders own 0.38% of the company's stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $911.75 on Friday. The stock has a market capitalization of $189.64 billion, a price-to-earnings ratio of 114.83, a PEG ratio of 4.11 and a beta of 0.92. The business has a 50-day moving average of $914.67 and a 200-day moving average of $929.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

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

Wall Street Analyst Weigh In

Several analysts recently commented on NOW shares. Erste Group Bank reaffirmed a "hold" rating on shares of ServiceNow in a research note on Wednesday, July 23rd. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research note on Monday, August 4th. Piper Sandler lifted their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Jefferies Financial Group lifted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Bank of America lifted their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,122.20.

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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