Stock Yards Bank & Trust Co. Acquires Shares of 226 ServiceNow, Inc. (NYSE:NOW)

Stock Yards Bank & Trust Co. bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 226 shares of the information technology services provider’s stock, valued at approximately $202,000.

Other large investors have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in ServiceNow in the third quarter worth about $30,000. Ridgewood Investments LLC purchased a new position in shares of ServiceNow in the 2nd quarter valued at approximately $32,000. DT Investment Partners LLC boosted its position in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. American Capital Advisory LLC purchased a new stake in ServiceNow in the second quarter worth $39,000. Finally, Semmax Financial Advisors Inc. bought a new position in ServiceNow in the second quarter worth $39,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. Citigroup boosted their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. TD Cowen upped their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday. BMO Capital Markets raised their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. StockNews.com raised ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Oppenheimer raised their price objective on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,034.96.

ServiceNow Stock Down 2.4 %

Shares of ServiceNow stock opened at $1,121.10 on Friday. The firm has a fifty day moving average of $1,006.82 and a two-hundred day moving average of $870.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $230.95 billion, a P/E ratio of 174.35, a PEG ratio of 6.58 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90.

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

Insider Activity

In other news, General Counsel Russell S. Elmer sold 81 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the completion of the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock valued at $20,861,626 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow 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.