First Financial Bankshares Inc Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

First Financial Bankshares Inc reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,861 shares of the information technology services provider’s stock after selling 275 shares during the period. First Financial Bankshares Inc’s holdings in ServiceNow were worth $19,552,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NOW. M&G Plc purchased a new position in shares of ServiceNow during the first quarter worth about $11,030,000. AXA S.A. lifted its position in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares during the period. HWG Holdings LP acquired a new stake in shares of ServiceNow during the 2nd quarter valued at approximately $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after acquiring an additional 1,078 shares during the period. Finally, Wealthspire Advisors LLC lifted its position in shares of ServiceNow by 3.4% during the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after acquiring an additional 56 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NOW shares. KeyCorp lifted their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company upped their target price on ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC upped their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group upped their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $970.33.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jacqueline P. Canney sold 353 shares of the 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 sale, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul John Smith sold 187 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,467 shares of company stock valued at $4,450,447 in the last quarter. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NOW opened at $950.85 on Monday. 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 stock has a 50 day simple moving average of $885.56 and a 200 day simple moving average of $797.66. ServiceNow, Inc. has a 52-week low of $548.44 and a 52-week high of $979.78. The firm has a market capitalization of $194.92 billion, a PE ratio of 101.70, a P/E/G ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the firm earned $1.21 EPS. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 7.41 EPS for the current fiscal year.

About ServiceNow

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.