Fifth Third Bancorp Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Fifth Third Bancorp boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,519 shares of the information technology services provider's stock after buying an additional 5,369 shares during the period. Fifth Third Bancorp's holdings in ServiceNow were worth $57,576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. PFG Private Wealth Management LLC purchased a new stake in ServiceNow in the 3rd quarter valued at about $28,000. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow in the 4th quarter valued at about $29,000. AdvisorNet Financial Inc grew its position in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in ServiceNow in the 3rd quarter valued at about $35,000. Finally, Disciplined Equity Management Inc. acquired a new position in ServiceNow in the 4th quarter valued at about $35,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NOW shares. Wells Fargo & Company lifted their target price on ServiceNow from $875.00 to $900.00 and gave the company an "overweight" rating in a research report on Tuesday, April 16th. Royal Bank of Canada lifted their target price on ServiceNow from $840.00 to $850.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. JMP Securities reissued a "market outperform" rating and set a $825.00 price objective on shares of ServiceNow in a research report on Tuesday, April 23rd. Truist Financial boosted their price objective on ServiceNow from $700.00 to $750.00 and gave the stock a "hold" rating in a research report on Thursday, January 25th. Finally, Barclays boosted their price objective on ServiceNow from $765.00 to $870.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $807.28.

ServiceNow Stock Performance

NYSE NOW traded up $10.11 on Thursday, reaching $695.72. The stock had a trading volume of 1,048,912 shares, compared to its average volume of 1,221,626. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. ServiceNow, Inc. has a 12-month low of $428.97 and a 12-month high of $815.32. The business's 50-day moving average price is $754.44 and its 200 day moving average price is $711.86. The stock has a market cap of $142.89 billion, a P/E ratio of 74.41, a price-to-earnings-growth ratio of 4.35 and a beta of 0.98.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Paul John Smith sold 1,180 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company's stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,369 shares of company stock worth $8,538,300. 0.25% of the stock is owned by insiders.

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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