Bell Bank Has $976,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Bell Bank lowered its position in ServiceNow, Inc. (NYSE:NOW) by 19.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,226 shares of the information technology services provider’s stock after selling 290 shares during the period. Bell Bank’s holdings in ServiceNow were worth $976,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in ServiceNow by 1.5% during the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock valued at $874,258,000 after buying an additional 12,533 shares during the period. Union Bancaire Privee UBP SA bought a new position in ServiceNow during the fourth quarter valued at about $48,802,000. FMR LLC grew its position in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after buying an additional 272,506 shares during the period. Duncker Streett & Co. Inc. grew its position in ServiceNow by 4.8% during the fourth quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider’s stock valued at $6,759,000 after buying an additional 290 shares during the period. Finally, Nicholas Investment Partners LP grew its position in ServiceNow by 223.5% during the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock valued at $2,974,000 after buying an additional 1,938 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, Director Jonathan Chadwick sold 770 shares of the business’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the sale, the director now owns 3,205 shares in the company, valued at approximately $2,985,842.10. The trade was a 19.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 over the last three months. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NOW. Morgan Stanley increased their price target on shares of ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Jefferies Financial Group reduced their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Monday, June 9th. Needham & Company LLC reiterated a “buy” rating and issued a $1,050.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,048.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,062.50.

ServiceNow Stock Up 1.7%

Shares of NYSE NOW opened at $1,005.27 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The firm’s fifty day moving average is $950.17 and its 200 day moving average is $972.18. The company has a market cap of $208.07 billion, a price-to-earnings ratio of 147.19, a PEG ratio of 4.51 and a beta of 0.95.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm earned $3.41 earnings per share. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current 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.