Mission Wealth Management LP Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Mission Wealth Management LP lifted its position in ServiceNow, Inc. (NYSE:NOW) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,372 shares of the information technology services provider’s stock after buying an additional 139 shares during the quarter. Mission Wealth Management LP’s holdings in ServiceNow were worth $3,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AdvisorNet Financial Inc increased 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 worth $31,000 after purchasing an additional 32 shares during the last quarter. PFG Private Wealth Management LLC bought a new position in shares of ServiceNow in the third quarter worth approximately $28,000. Disciplined Equity Management Inc. bought a new position in shares of ServiceNow in the fourth quarter worth approximately $35,000. Fortitude Family Office LLC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $41,000. Finally, Oliver Lagore Vanvalin Investment Group increased its position in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 14 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW stock opened at $693.33 on Wednesday. The stock has a fifty day moving average of $757.16 and a 200 day moving average of $712.16. ServiceNow, Inc. has a 52 week low of $428.97 and a 52 week high of $815.32. The firm has a market capitalization of $142.40 billion, a price-to-earnings ratio of 74.15, a PEG ratio of 4.57 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

NOW has been the topic of several research analyst reports. Barclays upped their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 23rd. Morgan Stanley increased their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Royal Bank of Canada increased their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Mizuho increased their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $807.28.

Insider Buying and Selling

In related news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 11,369 shares of company stock valued at $8,538,300 over the last quarter. 0.25% of the stock is 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.