ServiceNow Inc (NOW) Position Boosted by Associated Banc Corp

Associated Banc Corp lifted its holdings in ServiceNow Inc (NYSE:NOW) by 9.9% in the 1st quarter, HoldingsChannel reports. The firm owned 55,941 shares of the information technology services provider’s stock after purchasing an additional 5,018 shares during the quarter. Associated Banc Corp’s holdings in ServiceNow were worth $13,789,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Financial Gravity Wealth Inc. purchased a new stake in ServiceNow during the 1st quarter worth approximately $25,000. Sandy Spring Bank increased its stake in ServiceNow by 118.0% during the 1st quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Spectrum Management Group Inc. purchased a new stake in ServiceNow during the 1st quarter worth approximately $37,000. We Are One Seven LLC purchased a new stake in ServiceNow during the 4th quarter worth approximately $27,000. Finally, Claybrook Capital LLC purchased a new stake in ServiceNow during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.

In other news, insider Patricia L. Wadors sold 3,830 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $232.77, for a total transaction of $891,509.10. Following the transaction, the insider now directly owns 6,451 shares in the company, valued at approximately $1,501,599.27. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 1,304 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $235.00, for a total value of $306,440.00. Following the completion of the transaction, the director now owns 9,571 shares in the company, valued at $2,249,185. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,584 shares of company stock worth $29,135,337. Insiders own 1.00% of the company’s stock.

NOW has been the subject of several research reports. KeyCorp boosted their price objective on ServiceNow from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Royal Bank of Canada reiterated a “top pick” rating and set a $230.00 price objective (up from $210.00) on shares of ServiceNow in a research note on Thursday, January 31st. BMO Capital Markets boosted their price objective on ServiceNow from $235.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. ValuEngine upgraded ServiceNow from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Finally, Cowen boosted their price objective on ServiceNow from $260.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $268.24.

Shares of ServiceNow stock opened at $277.96 on Friday. The company has a market cap of $48.26 billion, a PE ratio of 1,389.80, a P/E/G ratio of 19.18 and a beta of 1.45. ServiceNow Inc has a 1-year low of $147.63 and a 1-year high of $281.74. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.10. The business had revenue of $788.93 million for the quarter, compared to analysts’ expectations of $768.09 million. ServiceNow had a positive return on equity of 1.64% and a negative net margin of 1.38%. The business’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. As a group, analysts expect that ServiceNow Inc will post 0.48 earnings per share for the current fiscal year.

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ServiceNow Company Profile

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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