Huntington National Bank Buys 3,459 Shares of ServiceNow, Inc. (NYSE:NOW)

Huntington National Bank grew its stake in ServiceNow, Inc. (NYSE:NOW) by 3.7% in the third quarter, HoldingsChannel reports. The fund owned 96,427 shares of the information technology services provider’s stock after acquiring an additional 3,459 shares during the period. Huntington National Bank’s holdings in ServiceNow were worth $86,244,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake 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 worth $14,066,715,000 after buying an additional 331,797 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after buying an additional 34,855 shares during the last quarter. Swedbank AB raised its stake in shares of ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after buying an additional 120,983 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after buying an additional 1,183,739 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of ServiceNow by 21.5% during the second 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. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Down 0.3 %

Shares of ServiceNow stock opened at $1,045.53 on Thursday. The firm’s 50-day moving average price is $920.45 and its two-hundred day moving average price is $818.12. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $215.38 billion, a price-to-earnings ratio of 162.60, a PEG ratio of 6.02 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the company posted $1.21 EPS. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,259 shares of company stock worth $4,955,741. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on NOW shares. Stifel Nicolaus upped their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Mizuho upped their target price on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer upped their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $974.04.

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.