ServiceNow, Inc. (NYSE:NOW) Shares Acquired by PFG Investments LLC

PFG Investments LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 11.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,355 shares of the information technology services provider’s stock after purchasing an additional 135 shares during the period. PFG Investments LLC’s holdings in ServiceNow were worth $1,436,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp raised its holdings in ServiceNow by 2.6% during the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after purchasing an additional 226,023 shares in the last quarter. FMR LLC raised its stake in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after buying an additional 502,845 shares in the last quarter. World Investment Advisors LLC lifted its holdings in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the period. Geode Capital Management LLC boosted its stake in shares of ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after buying an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after acquiring an additional 615,797 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOW has been the subject of a number of research reports. TD Cowen lifted their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. UBS Group boosted their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company increased their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group increased their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,105.79.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,140.70 on Tuesday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,165.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $1,077.07 and a 200-day moving average price of $945.28. The firm has a market capitalization of $234.98 billion, a PE ratio of 177.40, a P/E/G ratio of 5.11 and a beta of 0.99.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock worth $21,016,751 over the last three months. 0.25% of the stock is currently owned by company insiders.

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.