CNB Bank Sells 198 Shares of ServiceNow, Inc. (NYSE:NOW)

CNB Bank decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,190 shares of the information technology services provider’s stock after selling 198 shares during the quarter. ServiceNow accounts for approximately 0.9% of CNB Bank’s holdings, making the stock its 27th biggest position. CNB Bank’s holdings in ServiceNow were worth $1,959,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. Bank of New York Mellon Corp raised its stake in ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after buying an additional 34,855 shares during the last quarter. Swedbank AB lifted its holdings in shares of ServiceNow by 10.3% during the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after buying an additional 120,983 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of ServiceNow by 21.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock worth $750,513,000 after buying an additional 168,734 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of ServiceNow by 1.8% in the second quarter. Clearbridge Investments LLC now owns 677,942 shares of the information technology services provider’s stock worth $533,316,000 after acquiring an additional 11,979 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent research reports. Truist Financial increased their target price on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. BMO Capital Markets raised their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. JMP Securities upped their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday. Mizuho lifted their price target on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Barclays upped their price objective on ServiceNow from $890.00 to $980.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $914.15.

ServiceNow Price Performance

NYSE:NOW opened at $921.75 on Friday. The company has a market capitalization of $188.96 billion, a P/E ratio of 98.58, a P/E/G ratio of 5.63 and a beta of 0.99. The business’s 50-day moving average is $874.61 and its 200 day moving average is $791.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the company earned $0.77 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 187 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock worth $5,935,447 over the last 90 days. 0.25% of the stock is owned by insiders.

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.