US Bancorp DE Has $207.07 Million Stock Holdings in ServiceNow, Inc. $NOW

US Bancorp DE raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 201,417 shares of the information technology services provider's stock after buying an additional 2,723 shares during the quarter. US Bancorp DE owned 0.10% of ServiceNow worth $207,072,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its stake in shares of 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 purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow during the 1st quarter worth $26,000. WASHINGTON TRUST Co increased its stake in shares of 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 purchasing an additional 31 shares during the last quarter. Global X Japan Co. Ltd. acquired a new position in shares of ServiceNow during the 2nd quarter worth $30,000. Finally, Dagco Inc. acquired a new position in shares of ServiceNow during the 1st quarter worth $33,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of several recent analyst reports. Piper Sandler upped their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Bank of America upped their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JMP Securities reiterated a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Morgan Stanley upgraded ServiceNow from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Finally, BMO Capital Markets raised their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,122.20.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 5,825 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares of the company's stock, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 in the last ninety days. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

NYSE NOW opened at $914.15 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $190.14 billion, a price-to-earnings ratio of 115.13, a P/E/G ratio of 4.07 and a beta of 0.92. The company's fifty day moving average is $910.23 and its two-hundred day moving average is $930.97. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the business posted $3.13 EPS. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.

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