Pinnacle Bancorp Inc. Decreases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Pinnacle Bancorp Inc. lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 440 shares of the information technology services provider’s stock after selling 15 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in ServiceNow were worth $394,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NOW. Comerica Bank boosted its holdings in shares of ServiceNow by 1.2% in the fourth quarter. Comerica Bank now owns 56,341 shares of the information technology services provider’s stock worth $39,804,000 after buying an additional 667 shares during the last quarter. Chilton Investment Co. Inc. purchased a new position in shares of ServiceNow during the 4th quarter worth $1,144,000. Grand Jean Capital Management Inc. bought a new stake in shares of ServiceNow during the 4th quarter valued at $8,822,000. Fullerton Fund Management Co Ltd. increased its stake in shares of ServiceNow by 848.1% in the 4th quarter. Fullerton Fund Management Co Ltd. now owns 75,612 shares of the information technology services provider’s stock worth $53,419,000 after purchasing an additional 67,637 shares in the last quarter. Finally, Parkwood LLC raised its holdings in ServiceNow by 6.2% in the 4th quarter. Parkwood LLC now owns 8,166 shares of the information technology services provider’s stock worth $5,769,000 after purchasing an additional 476 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on NOW shares. Wells Fargo & Company upped their price target on ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Truist Financial lifted their target price on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. TD Cowen increased their price target on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, KeyCorp lowered their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $875.81.

Insiders Place Their Bets

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NOW opened at $944.87 on Friday. The business has a fifty day moving average of $855.54 and a 200 day moving average of $783.92. The stock has a market cap of $194.64 billion, a P/E ratio of 170.86, a PEG ratio of 5.63 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $949.00.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current year.

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.