Hartford Investment Management Co. Lowers Stock Position in ServiceNow, Inc. (NYSE:NOW)

Hartford Investment Management Co. lessened its position in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,813 shares of the information technology services provider’s stock after selling 169 shares during the quarter. Hartford Investment Management Co.’s holdings in ServiceNow were worth $9,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Wealth Management Partners LLC raised its holdings in ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after purchasing an additional 14 shares during the period. Trust Co. of Vermont raised its stake in shares of ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after buying an additional 15 shares during the period. Claro Advisors LLC lifted its position in shares of ServiceNow by 3.6% during the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after buying an additional 15 shares in the last quarter. Country Club Bank GFN grew its stake in ServiceNow by 1.6% in the 4th quarter. Country Club Bank GFN now owns 951 shares of the information technology services provider’s stock valued at $668,000 after acquiring an additional 15 shares during the period. Finally, Nemes Rush Group LLC increased its holdings in ServiceNow by 16.3% in the 3rd quarter. Nemes Rush Group LLC now owns 121 shares of the information technology services provider’s stock worth $68,000 after acquiring an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NOW shares. Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a report on Wednesday, March 20th. The Goldman Sachs Group boosted their price target on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. BMO Capital Markets raised their price objective on ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada upped their target price on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Argus boosted their price target on shares of ServiceNow from $675.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Two analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $762.96.

Check Out Our Latest Stock Analysis on NOW

Insiders Place Their Bets

In other news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,164 shares of company stock worth $9,940,303. 0.28% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW traded up $1.87 during mid-day trading on Wednesday, reaching $758.87. 215,733 shares of the company’s stock were exchanged, compared to its average volume of 1,203,820. The business’s fifty day simple moving average is $770.59 and its 200-day simple moving average is $685.61. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The stock has a market capitalization of $155.57 billion, a PE ratio of 90.85, a price-to-earnings-growth ratio of 4.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOWGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 6.11 earnings per share for the current year.

ServiceNow Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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