ServiceNow, Inc. (NYSE:NOW) Stock Holdings Lessened by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,129 shares of the information technology services provider’s stock after selling 339 shares during the period. Pinnacle Financial Partners Inc’s holdings in ServiceNow were worth $27,841,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Catalyst Financial Partners LLC raised its holdings in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after acquiring an additional 11 shares during the period. First Affirmative Financial Network lifted its position in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares during the period. Morling Financial Advisors LLC increased its position in ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares during the period. Finally, CX Institutional boosted its position in shares of ServiceNow by 1.2% in the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after acquiring an additional 13 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares in the company, valued at $43,740,630.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Kevin Thomas Mcbride sold 100 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $825.00, for a total transaction of $82,500.00. Following the sale, the insider now directly owns 2,994 shares in the company, valued at approximately $2,470,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s 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 completion of the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,359 shares of company stock worth $5,038,241 in the last ninety days. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Sanford C. Bernstein raised 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. Robert W. Baird lifted their target price on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen boosted their price target on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Oppenheimer raised their price objective on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $974.04.

ServiceNow Price Performance

Shares of NOW opened at $1,048.29 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $632.25 and a fifty-two week high of $1,053.26. The firm has a market capitalization of $215.95 billion, a PE ratio of 163.03, a PEG ratio of 5.95 and a beta of 0.98. The company’s 50-day moving average is $920.45 and its 200-day moving average is $818.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the firm posted $1.21 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

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.