Private Advisor Group LLC Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Private Advisor Group LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,377 shares of the information technology services provider’s stock after acquiring an additional 1,094 shares during the quarter. Private Advisor Group LLC’s holdings in ServiceNow were worth $6,625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC lifted its position in ServiceNow by 11.3% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 4,006 shares of the information technology services provider’s stock worth $2,831,000 after buying an additional 407 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of ServiceNow by 15.2% during the 4th quarter. Spire Wealth Management now owns 11,547 shares of the information technology services provider’s stock worth $8,649,000 after acquiring an additional 1,522 shares during the period. Sheets Smith Wealth Management lifted its holdings in ServiceNow by 7.7% during the 4th quarter. Sheets Smith Wealth Management now owns 5,343 shares of the information technology services provider’s stock valued at $3,775,000 after purchasing an additional 381 shares during the last quarter. Clearstead Trust LLC lifted its holdings in ServiceNow by 7.3% during the 4th quarter. Clearstead Trust LLC now owns 4,488 shares of the information technology services provider’s stock valued at $3,171,000 after purchasing an additional 304 shares during the last quarter. Finally, Connecticut Wealth Management LLC bought a new position in ServiceNow during the 4th quarter valued at about $1,208,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,369 shares of company stock worth $8,538,300. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. BMO Capital Markets reduced their price target on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group upped their price target on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Morgan Stanley upped their price target on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $807.88.

ServiceNow Stock Up 0.6 %

NOW stock traded up $4.57 during midday trading on Wednesday, reaching $717.90. 202,831 shares of the company’s stock traded hands, compared to its average volume of 1,215,764. The company has a market cap of $147.44 billion, a price-to-earnings ratio of 76.31, a P/E/G ratio of 4.50 and a beta of 0.98. The firm’s fifty day moving average price is $751.22 and its 200-day moving average price is $717.54. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a 52 week low of $435.07 and a 52 week high of $815.32.

ServiceNow 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.