PNC Financial Services Group Inc. Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

PNC Financial Services Group Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 202,085 shares of the information technology services provider's stock after purchasing an additional 8,967 shares during the quarter. PNC Financial Services Group Inc. owned about 0.10% of ServiceNow worth $180,743,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new position in ServiceNow in the first quarter valued at $25,000. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock valued at $30,000 after buying an additional 39 shares during the period. Ridgewood Investments LLC purchased a new position in ServiceNow in the second quarter worth approximately $32,000. Finally, DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after purchasing an additional 17 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Up 0.1 %

NOW stock traded up $0.88 during midday trading on Wednesday, hitting $1,022.98. The stock had a trading volume of 1,105,096 shares, compared to its average volume of 1,285,041. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66. The firm has a market cap of $210.73 billion, a PE ratio of 159.10, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. The company's 50-day moving average price is $941.65 and its 200 day moving average price is $830.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS 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 firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the firm posted $1.21 earnings per share. The business's quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,373 shares of company stock worth $7,139,335 in the last three months. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of several research reports. Needham & Company LLC lifted their target price on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Oppenheimer raised their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Piper Sandler lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. BMO Capital Markets upped their target price 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 target on ServiceNow from $850.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $986.39.

ServiceNow Company 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.