M&T Bank Corp Has $31.82 Million Position in ServiceNow, Inc. (NYSE:NOW)

M&T Bank Corp lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,576 shares of the information technology services provider's stock after selling 1,167 shares during the period. M&T Bank Corp's holdings in ServiceNow were worth $31,819,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC increased its holdings in shares of ServiceNow by 2.0% during the second quarter. NorthCrest Asset Manangement LLC now owns 1,057 shares of the information technology services provider's stock worth $832,000 after buying an additional 21 shares in the last quarter. ORG Partners LLC increased its holdings in shares of ServiceNow by 1,623.8% during the second quarter. ORG Partners LLC now owns 724 shares of the information technology services provider's stock worth $571,000 after buying an additional 682 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in shares of ServiceNow by 4.4% during the second quarter. Redhawk Wealth Advisors Inc. now owns 453 shares of the information technology services provider's stock worth $356,000 after buying an additional 19 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of ServiceNow by 4.2% during the second quarter. 180 Wealth Advisors LLC now owns 1,277 shares of the information technology services provider's stock worth $957,000 after buying an additional 51 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft increased its holdings in shares of ServiceNow by 55.5% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,337 shares of the information technology services provider's stock worth $1,047,000 after buying an additional 477 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Up 1.7 %

NOW traded up $19.42 during mid-day trading on Wednesday, hitting $1,147.26. The stock had a trading volume of 1,244,759 shares, compared to its average volume of 1,281,880. The stock's fifty day simple moving average is $992.26 and its 200-day simple moving average is $864.29. 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 firm has a market capitalization of $236.34 billion, a price-to-earnings ratio of 178.42, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the business posted $1.21 earnings per share. The business's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the sale, the director now directly owns 10,467 shares in the company, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $20,861,626 over the last ninety days. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOW. Evercore ISI raised their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Stifel Nicolaus increased their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Robert W. Baird increased their price target on shares of ServiceNow from $900.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $820.00 to $950.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Finally, UBS Group increased their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,022.37.

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.