Fifth Third Bancorp Acquires 942 Shares of ServiceNow, Inc. (NYSE:NOW)

Fifth Third Bancorp lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% in the 4th quarter, Holdings Channel reports. The fund owned 87,902 shares of the information technology services provider’s stock after acquiring an additional 942 shares during the quarter. Fifth Third Bancorp’s holdings in ServiceNow were worth $93,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. State Street Corp lifted its position in shares of ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after purchasing an additional 226,023 shares in the last quarter. FMR LLC grew its holdings in ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. World Investment Advisors LLC lifted its position in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after acquiring an additional 78,378 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after acquiring an additional 615,797 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NOW. Sanford C. Bernstein raised their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler upped their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Citigroup upped their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. Robert W. Baird boosted their target price on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,093.34.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the transaction, the director now owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.8 %

NOW stock opened at $1,124.64 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The stock’s 50 day simple moving average is $1,074.80 and its 200 day simple moving average is $939.98. The company has a market cap of $231.68 billion, a P/E ratio of 174.91, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 EPS. On average, research analysts expect that ServiceNow, Inc. will post 7.06 earnings per share for the current fiscal year.

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.