ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Hancock Whitney Corp

Hancock Whitney Corp grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,486 shares of the information technology services provider’s stock after acquiring an additional 19 shares during the period. Hancock Whitney Corp’s holdings in ServiceNow were worth $1,575,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of ServiceNow by 0.9% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 22,810 shares of the information technology services provider’s stock worth $24,190,000 after buying an additional 212 shares during the period. RiverPark Advisors LLC boosted its holdings in ServiceNow by 83.6% in the 4th quarter. RiverPark Advisors LLC now owns 4,054 shares of the information technology services provider’s stock worth $4,298,000 after acquiring an additional 1,846 shares during the period. Adage Capital Partners GP L.L.C. grew its position in ServiceNow by 3.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 187,600 shares of the information technology services provider’s stock valued at $198,879,000 after acquiring an additional 5,400 shares in the last quarter. Coppell Advisory Solutions LLC raised its stake in shares of ServiceNow by 3.2% during the fourth quarter. Coppell Advisory Solutions LLC now owns 518 shares of the information technology services provider’s stock valued at $551,000 after purchasing an additional 16 shares during the period. Finally, CSM Advisors LLC acquired a new position in shares of ServiceNow during the fourth quarter worth $224,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,250 shares of company stock worth $19,853,273 over the last three months. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays set a $969.00 price target on shares of ServiceNow in a research note on Thursday. Evercore ISI lifted their target price on ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group reduced their price target on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a report on Tuesday. TD Securities restated a “buy” rating and set a $1,100.00 price objective on shares of ServiceNow in a report on Thursday. Finally, BMO Capital Markets reduced their target price on ServiceNow from $990.00 to $950.00 and set an “outperform” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,032.94.

ServiceNow Trading Up 0.8 %

NYSE:NOW opened at $946.08 on Friday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The business has a fifty day moving average of $838.68 and a 200-day moving average of $967.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $195.84 billion, a price-to-earnings ratio of 138.52, a PEG ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has approved a share repurchase program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.