Hancock Whitney Corp Lowers Position in ServiceNow Inc (NYSE:NOW)

Hancock Whitney Corp cut its holdings in shares of ServiceNow Inc (NYSE:NOW) by 12.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,320 shares of the information technology services provider’s stock after selling 453 shares during the quarter. Hancock Whitney Corp’s holdings in ServiceNow were worth $591,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Berkshire Capital Holdings Inc. lifted its stake in shares of ServiceNow by 889.5% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 41,460 shares of the information technology services provider’s stock worth $7,382,000 after acquiring an additional 37,270 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of ServiceNow by 17.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 22,134 shares of the information technology services provider’s stock valued at $3,941,000 after purchasing an additional 3,259 shares during the period. Next Capital Management LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $32,000. Advisors Asset Management Inc. lifted its stake in shares of ServiceNow by 26.6% in the fourth quarter. Advisors Asset Management Inc. now owns 20,609 shares of the information technology services provider’s stock valued at $3,669,000 after purchasing an additional 4,325 shares during the period. Finally, Roman Butler Fullerton & Co. acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $518,000. Institutional investors own 97.32% of the company’s stock.

NOW has been the subject of several recent research reports. UBS Group restated a “buy” rating and set a $230.00 target price (up from $214.00) on shares of ServiceNow in a report on Thursday, January 31st. Jefferies Financial Group raised their target price on shares of ServiceNow to $242.00 and gave the company a “buy” rating in a report on Thursday, January 31st. Canaccord Genuity restated a “buy” rating and set a $240.00 target price (up from $210.00) on shares of ServiceNow in a report on Thursday, January 31st. KeyCorp restated an “overweight” rating and set a $250.00 target price (up from $210.00) on shares of ServiceNow in a report on Thursday, January 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $243.00 price target (up from $224.00) on shares of ServiceNow in a report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $234.89.

Shares of NYSE NOW traded up $1.17 during trading on Friday, reaching $237.40. 2,936,829 shares of the stock were exchanged, compared to its average volume of 1,573,032. ServiceNow Inc has a twelve month low of $147.63 and a twelve month high of $251.65. The company has a current ratio of 1.16, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The stock has a market cap of $42.85 billion, a P/E ratio of 1,187.00, a PEG ratio of 26.77 and a beta of 1.44.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 30th. The information technology services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $715.44 million for the quarter, compared to analysts’ expectations of $717.73 million. ServiceNow had a negative net margin of 1.02% and a positive return on equity of 3.95%. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. On average, research analysts expect that ServiceNow Inc will post 0.32 EPS for the current fiscal year.

In other ServiceNow news, insider David Schneider sold 7,750 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $220.00, for a total transaction of $1,705,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald E. F. Codd sold 100,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $220.08, for a total transaction of $22,008,000.00. Following the sale, the director now owns 78,428 shares of the company’s stock, valued at approximately $17,260,434.24. The disclosure for this sale can be found here. Insiders sold 229,657 shares of company stock worth $52,450,458 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

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About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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