Keybank National Association OH Buys 358 Shares of ServiceNow, Inc. (NYSE:NOW)

Keybank National Association OH raised its stake in ServiceNow, Inc. (NYSE:NOW) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,173 shares of the information technology services provider’s stock after acquiring an additional 358 shares during the period. Keybank National Association OH’s holdings in ServiceNow were worth $9,724,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NOW. Jag Capital Management LLC bought a new stake in shares of ServiceNow in the 4th quarter worth about $10,632,000. Ring Mountain Capital LLC bought a new stake in shares of ServiceNow in the 4th quarter worth about $290,000. Exencial Wealth Advisors LLC increased its holdings in shares of ServiceNow by 16.5% in the 4th quarter. Exencial Wealth Advisors LLC now owns 558 shares of the information technology services provider’s stock worth $592,000 after buying an additional 79 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of ServiceNow by 39.6% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,502 shares of the information technology services provider’s stock worth $1,604,000 after buying an additional 426 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of ServiceNow by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,292,922 shares of the information technology services provider’s stock worth $1,370,652,000 after buying an additional 56,585 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

Shares of NOW opened at $916.34 on Thursday. The company has a 50 day moving average price of $1,026.73 and a 200-day moving average price of $984.57. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The stock has a market capitalization of $188.77 billion, a PE ratio of 134.16, a PEG ratio of 4.51 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group lifted their price target on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

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.