Hancock Whitney Corp Acquires 35 Shares of ServiceNow, Inc. (NYSE:NOW)

Hancock Whitney Corp raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,467 shares of the information technology services provider’s stock after acquiring an additional 35 shares during the period. Hancock Whitney Corp’s holdings in ServiceNow were worth $1,312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Quent Capital LLC grew its position in ServiceNow by 4.1% in the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after acquiring an additional 30 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of ServiceNow by 31.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 3,859 shares of the information technology services provider’s stock worth $2,942,000 after purchasing an additional 931 shares during the last quarter. Redwood Investment Management LLC bought a new stake in shares of ServiceNow during the first quarter worth about $254,000. Finally, Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the first quarter worth about $25,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was 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. The trade was a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,787 shares of company stock valued at $17,841,028 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NOW shares. Barclays boosted their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Evercore ISI boosted their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Cowen upped their target price on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. KeyCorp upped their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada upped their price target on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $989.07.

ServiceNow Price Performance

Shares of NOW stock opened at $1,070.07 on Wednesday. The firm has a market cap of $220.43 billion, a P/E ratio of 166.42, a P/E/G ratio of 6.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The business’s 50 day moving average price is $955.40 and its 200-day moving average price is $841.01. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,072.84.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.