ServiceNow, Inc. (NYSE:NOW) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,471 shares of the information technology services provider’s stock after selling 205 shares during the period. Synovus Financial Corp’s holdings in ServiceNow were worth $12,048,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC grew its holdings in shares of ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares during the period. Wellington Management Group LLP raised its position in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after acquiring an additional 502,845 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $1,148.65 on Friday. The stock’s 50-day moving average is $1,002.75 and its 200-day moving average is $868.23. The company has a market cap of $236.62 billion, a price-to-earnings ratio of 178.64, a price-to-earnings-growth ratio of 6.58 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. 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) last announced 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. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. 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 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent analyst reports. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $900.00 to $960.00 in a research report on Monday, October 21st. KeyCorp raised their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Truist Financial boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday. 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 issued a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,029.78.

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.