ServiceNow, Inc. (NYSE:NOW) Position Boosted by Hancock Whitney Corp

Hancock Whitney Corp grew its position in ServiceNow, Inc. (NYSE:NOW) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,467 shares of the information technology services provider’s stock after buying an additional 35 shares during the quarter. Hancock Whitney Corp’s holdings in ServiceNow were worth $1,312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the third quarter worth approximately $30,000. Brown Brothers Harriman & Co. raised its position in shares of ServiceNow by 104.6% in the third quarter. Brown Brothers Harriman & Co. now owns 1,113 shares of the information technology services provider’s stock valued at $995,000 after purchasing an additional 569 shares during the period. Loomis Sayles & Co. L P raised its position in shares of ServiceNow by 8.0% in the third quarter. Loomis Sayles & Co. L P now owns 1,277 shares of the information technology services provider’s stock valued at $1,142,000 after purchasing an additional 95 shares during the period. Boston Family Office LLC increased its position in ServiceNow by 0.7% during the third quarter. Boston Family Office LLC now owns 22,626 shares of the information technology services provider’s stock worth $20,236,000 after acquiring an additional 168 shares during the period. Finally, DRW Securities LLC increased its position in ServiceNow by 248.7% during the third quarter. DRW Securities LLC now owns 8,722 shares of the information technology services provider’s stock worth $7,801,000 after acquiring an additional 6,221 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. TD Cowen boosted their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group lifted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Scotiabank assumed coverage on ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective for the company. Finally, UBS Group boosted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $989.07.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,787 shares of company stock valued at $17,841,028. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Trading Up 1.6 %

NYSE:NOW opened at $1,070.07 on Wednesday. The business has a 50 day moving average price of $955.40 and a two-hundred day moving average price of $841.01. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,072.84. The company has a market cap of $220.43 billion, a P/E ratio of 166.42, a price-to-earnings-growth ratio of 6.04 and a beta of 0.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

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