NBT Bank N A NY Has $1.15 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

NBT Bank N A NY lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 35.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,089 shares of the information technology services provider’s stock after buying an additional 283 shares during the quarter. NBT Bank N A NY’s holdings in ServiceNow were worth $1,154,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Sound View Wealth Advisors Group LLC raised its stake in ServiceNow by 1.9% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,057 shares of the information technology services provider’s stock worth $1,121,000 after purchasing an additional 20 shares in the last quarter. AlphaQuest LLC acquired a new stake in ServiceNow in the 4th quarter worth about $131,000. Argentarii LLC acquired a new stake in ServiceNow in the 4th quarter worth about $2,162,000. OFI Invest Asset Management acquired a new stake in ServiceNow in the 4th quarter worth about $2,345,000. Finally, Amundi raised its stake in ServiceNow by 23.9% in the 4th quarter. Amundi now owns 1,012,304 shares of the information technology services provider’s stock worth $1,061,988,000 after purchasing an additional 195,370 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 8.1 %

Shares of NYSE NOW opened at $781.60 on Tuesday. The company has a market capitalization of $161.01 billion, a P/E ratio of 114.44, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company’s 50 day moving average price is $1,011.72 and its 200-day moving average price is $985.64.

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

ServiceNow declared that its board 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 often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction 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 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NOW. Truist Financial raised their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Robert W. Baird decreased their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Scotiabank began coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. Finally, Redburn Atlantic began coverage on shares of ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.