ServiceNow, Inc. (NYSE:NOW) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,740 shares of the information technology services provider’s stock after selling 144 shares during the quarter. M&T Bank Corp’s holdings in ServiceNow were worth $33,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NOW. International Assets Investment Management LLC raised its stake in ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after acquiring an additional 820,465 shares in the last quarter. FMR LLC raised its stake in ServiceNow by 17.3% during the 3rd 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 in the last quarter. Jennison Associates LLC raised its stake in ServiceNow by 23.0% during the 3rd quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after acquiring an additional 461,614 shares in the last quarter. Cerity Partners LLC raised its stake in 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 worth $287,020,000 after acquiring an additional 371,648 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in ServiceNow during the 3rd quarter worth $135,075,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 3.0 %

NOW stock traded up $20.93 during midday trading on Friday, reaching $716.65. 1,437,055 shares of the company’s stock traded hands, compared to its average volume of 1,270,596. The company has a market capitalization of $147.19 billion, a P/E ratio of 76.65, a PEG ratio of 4.37 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. ServiceNow, Inc. has a fifty-two week low of $428.97 and a fifty-two week high of $815.32. The business has a 50-day moving average price of $754.44 and a two-hundred day moving average price of $711.86.

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. Mizuho raised their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Robert W. Baird lifted their target price on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group raised their price objective on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Jefferies Financial Group increased their target price on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company upped their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $807.28.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were 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 at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred 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 sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 11,369 shares of company stock valued at $8,538,300 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

About ServiceNow

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.