Wealthspire Advisors LLC Acquires 723 Shares of ServiceNow, Inc. (NYSE:NOW)

Wealthspire Advisors LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 80.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,627 shares of the information technology services provider’s stock after buying an additional 723 shares during the period. Wealthspire Advisors LLC’s holdings in ServiceNow were worth $1,149,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares in the last quarter. FMR LLC boosted its position in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after acquiring an additional 595,697 shares during the last quarter. Jennison Associates LLC grew its stake in ServiceNow by 23.0% during the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after acquiring an additional 461,614 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of ServiceNow by 1,073.7% during the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after purchasing an additional 371,648 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of ServiceNow during the third quarter valued at about $135,075,000. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. The Goldman Sachs Group increased 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. UBS Group reduced their price target on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Oppenheimer boosted their target price on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Jefferies Financial Group raised their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, KeyCorp lowered their target price on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $807.88.

ServiceNow Stock Performance

NYSE:NOW traded up $7.67 during trading hours on Friday, hitting $730.61. 57,305 shares of the company were exchanged, compared to its average volume of 1,211,756. The stock has a market capitalization of $150.05 billion, a price-to-earnings ratio of 77.34, a PEG ratio of 4.50 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $446.65 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The company’s 50 day moving average price is $750.45 and its 200-day moving average price is $717.57.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares in the company, valued at approximately $2,163,527.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Paul John Smith sold 190 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the transaction, the insider now directly owns 3,010 shares in the company, valued at approximately $2,163,527.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,559 shares of company stock valued at $8,674,868. Insiders own 0.25% of the company’s stock.

ServiceNow Company 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.