ServiceNow, Inc. (NYSE:NOW) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 70.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,243 shares of the information technology services provider’s stock after selling 3,013 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ServiceNow were worth $1,318,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NOW. Polymer Capital Management HK LTD boosted its position in shares of ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after buying an additional 981 shares during the period. Avidian Wealth Enterprises LLC lifted its stake in ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after acquiring an additional 138 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after acquiring an additional 765 shares during the period. Cardano Risk Management B.V. acquired a new position in ServiceNow in the 4th quarter valued at about $105,090,000. Finally, Czech National Bank increased its stake in ServiceNow by 6.7% during the fourth quarter. Czech National Bank now owns 44,793 shares of the information technology services provider’s stock worth $47,486,000 after purchasing an additional 2,829 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 1.4 %

NYSE:NOW opened at $1,140.70 on Tuesday. The company 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. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,165.98. The stock’s 50 day moving average price is $1,077.07 and its 200 day moving average price is $945.28. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NOW shares. Canaccord Genuity Group lifted their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company boosted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. UBS Group upped their price objective on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. TD Cowen lifted their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Oppenheimer upped their price target on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One 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 given a strong buy rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,105.79.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,867 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the completion of the transaction, the general counsel now owns 6,843 shares in the company, valued at $7,007,026.71. This trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,731 shares of company stock worth $21,016,751. Insiders own 0.25% of the company’s stock.

ServiceNow Company 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.