Huntington National Bank Has $83.38 Million Stock Position in ServiceNow, Inc. $NOW

Huntington National Bank increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 397.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 544,257 shares of the information technology services provider’s stock after purchasing an additional 434,761 shares during the quarter. Huntington National Bank’s holdings in ServiceNow were worth $83,375,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Meridian Wealth Advisors LLC increased its position in shares of ServiceNow by 2.2% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock worth $508,000 after purchasing an additional 12 shares in the last quarter. Valley Brook Capital Group Inc. increased its position in shares of ServiceNow by 2.1% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock worth $583,000 after purchasing an additional 13 shares in the last quarter. Catalyst Financial Partners LLC increased its position in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock worth $1,169,000 after purchasing an additional 13 shares in the last quarter. JT Stratford LLC increased its position in shares of ServiceNow by 3.5% during the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock worth $354,000 after purchasing an additional 13 shares in the last quarter. Finally, Abbot Financial Management Inc. increased its position in shares of ServiceNow by 2.9% during the 3rd quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider’s stock worth $462,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. FBN Securities decreased their price objective on shares of ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Barclays reissued an “overweight” rating and set a $134.00 price objective (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Citizens Jmp reissued a “market outperform” rating and set a $157.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $121.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Finally, TD Cowen reissued a “buy” rating and set a $140.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.85.

ServiceNow Stock Up 2.2%

Shares of NYSE NOW opened at $102.15 on Thursday. The firm has a market capitalization of $105.31 billion, a PE ratio of 60.87, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The firm’s 50-day moving average is $98.00 and its 200-day moving average is $124.18.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 EPS. Equities analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 over the last quarter. Company insiders own 0.34% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reiterated ServiceNow as a top buy, saying AI is a growth engine for the company and highlighting it as better positioned than Salesforce. This kind of analyst support can lift investor sentiment. Article Title
• Positive Sentiment: A new Zacks article and broader market buzz show ServiceNow is trending with investors, suggesting renewed interest in the stock after recent weakness. Article Title
• Neutral Sentiment: ServiceNow presented at the Jefferies Software, Internet & AI Conference, keeping the company in focus but without any clearly reported new financial catalyst in the transcript headline alone. Article Title
• Neutral Sentiment: Market commentary about institutional order flows and software sector weakness provides broader context, but it is not a direct company-specific driver. Article Title
• Negative Sentiment: Recent coverage also notes that investors remain worried AI could disrupt ServiceNow’s business model, and the stock had already fallen sharply earlier in the week after margin concerns despite a revenue beat. Article Title

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.