Independence Bank of Kentucky Has $204,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

Independence Bank of Kentucky grew its position in ServiceNow, Inc. (NYSE:NOW) by 121.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 259 shares of the information technology services provider’s stock after buying an additional 142 shares during the period. Independence Bank of Kentucky’s holdings in ServiceNow were worth $204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&G Plc acquired a new stake in shares of ServiceNow in the 1st quarter valued at $11,030,000. Smithfield Trust Co increased its stake in shares of ServiceNow by 36.4% in the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after buying an additional 262 shares during the period. Dohj LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $913,000. New Mexico Educational Retirement Board grew its stake in shares of ServiceNow by 9.4% during the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOW has been the subject of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Stifel Nicolaus lifted their price objective on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. Wells Fargo & Company lifted their price objective on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Guggenheim reaffirmed a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Stock Performance

NOW opened at $828.27 on Monday. The business’s 50-day simple moving average is $782.00 and its 200 day simple moving average is $758.94. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $850.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $169.80 billion, a PE ratio of 88.59, a PEG ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, sell-side analysts expect that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the completion of the transaction, the chief financial officer now directly owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the completion of the sale, the chief financial officer now directly owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,072 shares of company stock valued at $6,930,684. Insiders own 0.25% of the company’s stock.

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.