Advisor Partners LLC acquired a new position in shares of ServiceNow Inc (NYSE:NOW) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,325 shares of the information technology services provider’s stock, valued at approximately $404,000.
Several other large investors have also recently bought and sold shares of NOW. Delta Asset Management LLC TN bought a new position in shares of ServiceNow during the third quarter worth about $25,000. AdvisorNet Financial Inc bought a new position in shares of ServiceNow during the third quarter worth about $31,000. North Star Investment Management Corp. bought a new position in shares of ServiceNow during the third quarter worth about $32,000. Tompkins Financial Corp bought a new position in shares of ServiceNow during the fourth quarter worth about $37,000. Finally, Optimum Investment Advisors grew its holdings in shares of ServiceNow by 243.9% during the fourth quarter. Optimum Investment Advisors now owns 141 shares of the information technology services provider’s stock worth $40,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.
In other news, Director Frederic B. Luddy sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $248.68, for a total value of $5,470,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott acquired 3,600 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $278.93 per share, with a total value of $1,004,148.00. Following the completion of the transaction, the chief executive officer now owns 3,600 shares of the company’s stock, valued at $1,004,148. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 87,050 shares of company stock valued at $23,803,624. Insiders own 1.00% of the company’s stock.
A number of research firms have weighed in on NOW. Royal Bank of Canada raised their price target on ServiceNow from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. ValuEngine upgraded ServiceNow from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. BTIG Research raised their price target on ServiceNow to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Zacks Investment Research upgraded ServiceNow from a “hold” rating to a “buy” rating and set a $332.00 price target for the company in a research note on Thursday, January 23rd. Finally, Deutsche Bank decreased their price target on ServiceNow from $305.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. ServiceNow currently has an average rating of “Buy” and a consensus target price of $303.82.
NOW opened at $307.63 on Tuesday. ServiceNow Inc has a 12-month low of $184.01 and a 12-month high of $318.84. The stock has a market cap of $58.01 billion, a price-to-earnings ratio of 1,709.15, a PEG ratio of 10.40 and a beta of 1.33. The business has a 50 day moving average of $291.61 and a 200-day moving average of $271.78. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.75.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
Further Reading: Initial Coin Offering (ICO)
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