Allen Capital Group LLC Buys 131 Shares of ServiceNow, Inc. (NYSE:NOW)

Allen Capital Group LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 24.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 674 shares of the information technology services provider’s stock after acquiring an additional 131 shares during the period. Allen Capital Group LLC’s holdings in ServiceNow were worth $715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOW. State Street Corp raised its stake in ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after purchasing an additional 226,023 shares in the last quarter. FMR LLC increased its stake in ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after acquiring an additional 502,845 shares during the last quarter. World Investment Advisors LLC raised its position in ServiceNow by 499,668.1% during the third 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 purchasing an additional 4,771,830 shares in the last quarter. Geode Capital Management LLC raised its position in ServiceNow by 1.9% during 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 purchasing an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in ServiceNow by 24.1% during 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 purchasing an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Down 2.0 %

Shares of ServiceNow stock opened at $1,146.61 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The stock has a 50 day moving average price of $1,082.77 and a two-hundred day moving average price of $950.94. The stock has a market capitalization of $236.20 billion, a PE ratio of 179.29, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99.

Analysts Set New Price Targets

NOW has been the topic of several recent analyst reports. Scotiabank began coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target on the stock. Jefferies Financial Group boosted their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. JMP Securities raised their price target on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 21st. Mizuho lifted their price target on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald started coverage on shares of ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,116.14.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by corporate insiders.

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.