ServiceNow, Inc. (NYSE:NOW) Stake Reduced by LGT Group Foundation

LGT Group Foundation lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 64,311 shares of the information technology services provider’s stock after selling 3,724 shares during the quarter. ServiceNow comprises approximately 1.0% of LGT Group Foundation’s holdings, making the stock its 22nd largest position. LGT Group Foundation’s holdings in ServiceNow were worth $45,176,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in shares of ServiceNow by 5.6% during the third quarter. Commonwealth Equity Services LLC now owns 36,699 shares of the information technology services provider’s stock worth $20,514,000 after purchasing an additional 1,946 shares during the period. FinTrust Capital Advisors LLC raised its position in shares of ServiceNow by 225.0% during the third quarter. FinTrust Capital Advisors LLC now owns 221 shares of the information technology services provider’s stock worth $124,000 after purchasing an additional 153 shares during the period. Raymond James & Associates raised its position in shares of ServiceNow by 10.1% during the third quarter. Raymond James & Associates now owns 312,964 shares of the information technology services provider’s stock worth $174,934,000 after purchasing an additional 28,662 shares during the period. Simon Quick Advisors LLC raised its position in shares of ServiceNow by 138.5% during the third quarter. Simon Quick Advisors LLC now owns 892 shares of the information technology services provider’s stock worth $499,000 after purchasing an additional 518 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in shares of ServiceNow by 7.9% during the third quarter. Stratos Wealth Partners LTD. now owns 7,644 shares of the information technology services provider’s stock worth $4,273,000 after purchasing an additional 557 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW traded up $5.89 during trading on Thursday, hitting $691.50. The company’s stock had a trading volume of 264,626 shares, compared to its average volume of 1,210,544. The firm’s 50 day moving average price is $755.91 and its two-hundred day moving average price is $711.97. 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 12 month low of $428.97 and a 12 month high of $815.32. The stock has a market capitalization of $142.02 billion, a price-to-earnings ratio of 73.90, a price-to-earnings-growth ratio of 4.35 and a beta of 0.98.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock worth $8,538,300 over the last 90 days. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NOW. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Thursday, April 25th. Royal Bank of Canada increased their price objective on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. KeyCorp reduced their price objective on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Piper Sandler increased their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $807.28.

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.