ServiceNow, Inc. (NYSE:NOW) Shares Bought by South State CORP.

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South State CORP. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 22,498 shares of the information technology services provider’s stock after acquiring an additional 268 shares during the quarter. ServiceNow comprises about 1.1% of South State CORP.’s portfolio, making the stock its 27th largest position. South State CORP.’s holdings in ServiceNow were worth $10,911,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mint Tower Capital Management B.V. acquired a new position in shares of ServiceNow in the 2nd quarter valued at about $119,153,000. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 15,633,958 shares of the information technology services provider’s stock valued at $6,332,691,000 after buying an additional 164,302 shares during the period. Jackson Square Partners LLC lifted its holdings in shares of ServiceNow by 0.9% in the 2nd quarter. Jackson Square Partners LLC now owns 1,478,869 shares of the information technology services provider’s stock valued at $599,030,000 after buying an additional 13,628 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ServiceNow by 1.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 899,207 shares of the information technology services provider’s stock valued at $364,233,000 after buying an additional 10,722 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of ServiceNow by 5.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 865,852 shares of the information technology services provider’s stock valued at $350,722,000 after buying an additional 42,101 shares during the period. 90.05% of the stock is owned by institutional investors.

In related news, insider Chirantan Jitendra Desai sold 1,562 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $451.42, for a total value of $705,118.04. Following the transaction, the insider now directly owns 28,040 shares in the company, valued at $12,657,816.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 28,600 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $515.38, for a total value of $14,739,868.00. Following the completion of the transaction, the director now owns 811 shares in the company, valued at $417,973.18. The disclosure for this sale can be found here. Insiders sold 64,532 shares of company stock worth $31,658,939 over the last quarter. 1.00% of the stock is currently owned by insiders.

Several equities analysts recently weighed in on the company. Piper Sandler lifted their price target on ServiceNow from $430.00 to $500.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Pritchard Capital lifted their price target on ServiceNow from $518.00 to $589.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Bank of America lifted their price target on ServiceNow from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, July 27th. UBS Group assumed coverage on ServiceNow in a research note on Wednesday, October 14th. They issued a “buy” rating and a $600.00 price target for the company. Finally, Needham & Company LLC lifted their price target on ServiceNow from $490.00 to $538.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Five investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. ServiceNow has a consensus rating of “Buy” and a consensus target price of $524.00.

Shares of NOW stock traded up $3.73 during trading hours on Friday, reaching $518.06. The company had a trading volume of 1,184,583 shares, compared to its average volume of 1,919,614. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a fifty day moving average of $507.56 and a 200-day moving average of $443.47. The company has a market capitalization of $101.07 billion, a price-to-earnings ratio of 146.76, a PEG ratio of 16.82 and a beta of 1.22. ServiceNow, Inc. has a 12-month low of $238.93 and a 12-month high of $537.53.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.18. ServiceNow had a return on equity of 9.79% and a net margin of 16.60%. On average, analysts forecast that ServiceNow, Inc. will post 1.08 EPS for the current year.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company offers information technology (IT) service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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