Trustmark National Bank Trust Department Acquires 781 Shares of ServiceNow, Inc. (NYSE:NOW)

Trustmark National Bank Trust Department lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 96.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,591 shares of the information technology services provider’s stock after acquiring an additional 781 shares during the period. Trustmark National Bank Trust Department’s holdings in ServiceNow were worth $1,423,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the first quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC purchased a new position in shares of ServiceNow during the second quarter valued at about $32,000. Finally, DT Investment Partners LLC increased its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.1 %

Shares of ServiceNow stock opened at $1,022.98 on Thursday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $210.73 billion, a price-to-earnings ratio of 159.10, a PEG ratio of 5.87 and a beta of 0.98. The firm’s 50-day moving average is $941.65 and its two-hundred day moving average is $830.81.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, research analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOW. Mizuho raised their price target on ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a report on Tuesday. BMO Capital Markets boosted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Piper Sandler increased their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Finally, StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. One research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $986.39.

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The trade was a 33.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,373 shares of company stock worth $7,139,335. 0.25% of the stock is owned by corporate 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.