Huntington National Bank Buys 2,807 Shares of ServiceNow, Inc. (NYSE:NOW)

Huntington National Bank lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 99,234 shares of the information technology services provider’s stock after purchasing an additional 2,807 shares during the quarter. Huntington National Bank’s holdings in ServiceNow were worth $105,200,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Private Portfolio Partners LLC increased its position in ServiceNow by 4.4% during the fourth quarter. Private Portfolio Partners LLC now owns 525 shares of the information technology services provider’s stock valued at $557,000 after acquiring an additional 22 shares during the last quarter. Kesler Norman & Wride LLC grew its holdings in ServiceNow by 1.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider’s stock valued at $1,157,000 after purchasing an additional 13 shares during the last quarter. RFG Bristol Wealth Advisors LLC purchased a new stake in ServiceNow in the 4th quarter worth about $4,102,000. Meeder Advisory Services Inc. lifted its stake in ServiceNow by 1.1% in the fourth quarter. Meeder Advisory Services Inc. now owns 4,319 shares of the information technology services provider’s stock worth $4,579,000 after purchasing an additional 46 shares during the last quarter. Finally, Potomac Fund Management Inc. ADV purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $339,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NOW shares. The Goldman Sachs Group raised their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Royal Bank of Canada set a $986.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. Jefferies Financial Group lowered their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, UBS Group reduced their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,088.59.

ServiceNow Price Performance

Shares of NOW opened at $810.61 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company’s fifty day moving average price is $939.07 and its 200-day moving average price is $983.75. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The firm has a market capitalization of $166.99 billion, a PE ratio of 118.68, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has initiated a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.