First Citizens Bank & Trust Co. Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

First Citizens Bank & Trust Co. raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 35.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,230 shares of the information technology services provider’s stock after purchasing an additional 325 shares during the period. First Citizens Bank & Trust Co.’s holdings in ServiceNow were worth $1,304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its position in shares of ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after buying an additional 226,023 shares during the last quarter. FMR LLC raised its position in shares of ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after buying an additional 502,845 shares during the last quarter. World Investment Advisors LLC raised its position in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after buying an additional 78,378 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after buying an additional 615,797 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NOW shares. Canaccord Genuity Group boosted their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Scotiabank started coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Piper Sandler upped their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,093.34.

ServiceNow Trading Down 0.8 %

ServiceNow stock opened at $1,124.64 on Monday. The firm’s 50-day moving average is $1,077.07 and its 200-day moving average is $943.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The company has a market cap of $231.68 billion, a P/E ratio of 174.91, a PEG ratio of 5.11 and a beta of 0.99.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is currently owned by insiders.

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.