OLD National Bancorp IN Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

OLD National Bancorp IN trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 48.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 581 shares of the information technology services provider’s stock after selling 555 shares during the period. OLD National Bancorp IN’s holdings in ServiceNow were worth $457,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the first quarter valued at $25,000. Versant Capital Management Inc raised its stake in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow in the fourth quarter valued at $29,000. EntryPoint Capital LLC raised its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares in the last quarter. Finally, Disciplined Equity Management Inc. acquired a new stake in ServiceNow in the fourth quarter valued at $35,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the completion of the transaction, the chief financial officer now directly owns 13,290 shares in the company, valued at approximately $9,819,715.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the transaction, the chief financial officer now owns 13,290 shares of the company’s stock, valued at approximately $9,819,715.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher Bedi sold 215 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders sold 9,264 shares of company stock worth $7,004,710 in the last ninety days. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. William Blair restated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Thursday, July 25th. Piper Sandler raised their price objective on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. JMP Securities raised their price objective on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus raised their price objective on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $842.22.

ServiceNow Price Performance

Shares of NOW stock traded up $14.94 during midday trading on Friday, reaching $811.08. 799,546 shares of the company traded hands, compared to its average volume of 1,338,625. The firm’s 50 day simple moving average is $757.14 and its two-hundred day simple moving average is $755.59. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $850.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $166.27 billion, a PE ratio of 86.75, a price-to-earnings-growth ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the firm posted $0.77 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts expect that ServiceNow, Inc. will post 6.84 EPS for the current fiscal year.

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.