Webster Bank N. A. Has $5 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Webster Bank N. A. lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,716 shares of the information technology services provider’s stock after purchasing an additional 826 shares during the period. Webster Bank N. A.’s holdings in ServiceNow were worth $5,000,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of ServiceNow by 49.0% in the 4th quarter. Pacer Advisors Inc. now owns 26,148 shares of the information technology services provider’s stock valued at $27,720,000 after purchasing an additional 8,598 shares during the last quarter. Center For Asset Management LLC grew its holdings in ServiceNow by 10.4% during the 4th quarter. Center For Asset Management LLC now owns 277 shares of the information technology services provider’s stock worth $294,000 after acquiring an additional 26 shares during the period. United Asset Strategies Inc. lifted its stake in shares of ServiceNow by 0.5% in the 4th quarter. United Asset Strategies Inc. now owns 22,323 shares of the information technology services provider’s stock valued at $23,665,000 after purchasing an additional 110 shares during the period. Cornerstone Wealth Group LLC boosted its position in shares of ServiceNow by 0.6% in the 4th quarter. Cornerstone Wealth Group LLC now owns 4,954 shares of the information technology services provider’s stock worth $5,252,000 after purchasing an additional 30 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of ServiceNow by 6.2% during the fourth quarter. KBC Group NV now owns 174,620 shares of the information technology services provider’s stock worth $185,118,000 after purchasing an additional 10,261 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,731 shares of company stock worth $21,016,751. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.8 %

ServiceNow stock opened at $1,124.64 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company’s 50-day moving average is $1,077.07 and its 200-day moving average is $945.28. The firm has a market capitalization of $231.68 billion, a PE ratio of 174.91, a P/E/G ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NOW shares. Raymond James initiated coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. The Goldman Sachs Group increased their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. BMO Capital Markets boosted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Canaccord Genuity Group raised their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,093.34.

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.