Global Wealth Management Investment Advisory Inc. Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Global Wealth Management Investment Advisory Inc. trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 31.3% 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 103 shares of the information technology services provider’s stock after selling 47 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in ServiceNow were worth $73,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. International Assets Investment Management LLC increased its position in shares of ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares during the last quarter. FMR LLC increased its position in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Jennison Associates LLC increased its position in shares of ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after purchasing an additional 461,614 shares during the last quarter. Cerity Partners LLC increased its position in shares of ServiceNow by 1,073.7% in the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after purchasing an additional 371,648 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of ServiceNow in the third quarter worth approximately $135,075,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $685.45 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $140.78 billion, a P/E ratio of 73.31, a P/E/G ratio of 4.35 and a beta of 0.98. The business has a fifty day simple moving average of $755.91 and a two-hundred day simple moving average of $711.97. ServiceNow, Inc. has a 12 month low of $428.97 and a 12 month high of $815.32.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Oppenheimer upped their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. The Goldman Sachs Group increased their price target on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. JMP Securities reiterated a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a research report on Tuesday, April 23rd. 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. Finally, Robert W. Baird increased their price target on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Three 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $807.28.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,369 shares of company stock valued at $8,538,300. 0.25% of the stock is currently owned by company 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.