Summit Trail Advisors LLC Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Summit Trail Advisors LLC lessened its position in ServiceNow, Inc. (NYSE:NOW) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,414 shares of the information technology services provider’s stock after selling 172 shares during the quarter. Summit Trail Advisors LLC’s holdings in ServiceNow were worth $999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc lifted its position in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of ServiceNow in the third quarter valued at approximately $35,000. Disciplined Equity Management Inc. acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new stake in shares of ServiceNow in the third quarter valued at approximately $41,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated 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 sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following 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. Insiders have sold 11,369 shares of company stock valued at $8,538,300 over the last three months. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

NOW has been the subject of several recent research reports. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a report on Thursday, April 25th. Mizuho raised their target price on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Oppenheimer raised their target price on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Stifel Nicolaus reissued a “buy” rating and set a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, The Goldman Sachs Group raised their target price on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $807.28.

ServiceNow Price Performance

Shares of NOW traded up $9.92 on Monday, reaching $726.57. The stock had a trading volume of 1,189,768 shares, compared to its average volume of 1,223,759. The firm has a market capitalization of $149.22 billion, a PE ratio of 77.50, a PEG ratio of 4.50 and a beta of 0.98. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of $753.36 and a 200 day moving average of $715.16. ServiceNow, Inc. has a twelve month low of $429.05 and a twelve month high of $815.32.

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.