MidWestOne Financial Group Inc. Decreases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

MidWestOne Financial Group Inc. reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,075 shares of the information technology services provider’s stock after selling 34 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in ServiceNow were worth $961,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Catalyst Financial Partners LLC grew its stake in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the period. First Affirmative Financial Network grew its stake in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after acquiring an additional 12 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 12 shares during the period. BluePointe Capital Management LLC grew its stake in shares of ServiceNow by 0.6% during the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after acquiring an additional 12 shares during the period. Finally, Morling Financial Advisors LLC grew its stake in shares of ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

NYSE:NOW opened at $1,128.51 on Wednesday. The stock’s fifty day moving average is $987.03 and its 200 day moving average is $861.55. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,147.37. The firm has a market capitalization of $232.47 billion, a PE ratio of 175.51, a PEG ratio of 6.45 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the firm posted $1.21 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, insider Kevin Thomas Mcbride sold 100 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $102,397.00. Following the completion of the transaction, the insider now directly owns 3,457 shares in the company, valued at $3,539,864.29. This trade represents a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock valued at $20,861,626 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on NOW shares. Royal Bank of Canada boosted their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group boosted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Truist Financial boosted their price objective on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Oppenheimer boosted their price objective on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank began coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.