UMB Bank n.a. Reduces Stake in ServiceNow, Inc. (NYSE:NOW)

UMB Bank n.a. lowered its position in ServiceNow, Inc. (NYSE:NOW) by 7.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,165 shares of the information technology services provider’s stock after selling 1,153 shares during the period. UMB Bank n.a.’s holdings in ServiceNow were worth $15,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Intech Investment Management LLC lifted its holdings in ServiceNow by 7.6% in the second quarter. Intech Investment Management LLC now owns 6,388 shares of the information technology services provider’s stock valued at $5,025,000 after acquiring an additional 450 shares during the period. AE Wealth Management LLC lifted its holdings in ServiceNow by 38.5% in the second quarter. AE Wealth Management LLC now owns 6,774 shares of the information technology services provider’s stock valued at $5,329,000 after acquiring an additional 1,882 shares during the period. Summit Trail Advisors LLC lifted its holdings in ServiceNow by 22.0% in the second quarter. Summit Trail Advisors LLC now owns 1,977 shares of the information technology services provider’s stock valued at $1,555,000 after acquiring an additional 357 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in ServiceNow by 5.8% in the second quarter. Legacy Financial Advisors Inc. now owns 824 shares of the information technology services provider’s stock valued at $648,000 after acquiring an additional 45 shares during the period. Finally, Yarra Square Partners LP lifted its holdings in ServiceNow by 6.7% in the second quarter. Yarra Square Partners LP now owns 6,878 shares of the information technology services provider’s stock valued at $5,411,000 after acquiring an additional 430 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $1,072.02 on Monday. The stock has a market cap of $220.84 billion, a PE ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The stock has a fifty day simple moving average of $1,069.67 and a 200-day simple moving average of $932.23.

ServiceNow (NYSE:NOW) last released its quarterly 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. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOW. Robert W. Baird boosted their price target on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays upped their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. JMP Securities upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. TD Cowen upped their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI upped their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,080.38.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is currently owned by company insiders.

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.