Commonwealth Equity Services LLC Increases Holdings in ServiceNow, Inc. (NYSE:NOW)

Commonwealth Equity Services LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 17.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,177 shares of the information technology services provider’s stock after buying an additional 6,478 shares during the quarter. Commonwealth Equity Services LLC’s holdings in ServiceNow were worth $30,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of NOW. Stratos Wealth Advisors LLC raised its position in ServiceNow by 41.8% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 577 shares of the information technology services provider’s stock worth $323,000 after purchasing an additional 170 shares during the period. Miracle Mile Advisors LLC increased its holdings in shares of ServiceNow by 12.7% in the third quarter. Miracle Mile Advisors LLC now owns 2,020 shares of the information technology services provider’s stock worth $1,129,000 after buying an additional 228 shares during the period. Telemus Capital LLC lifted its stake in shares of ServiceNow by 7.6% in the 3rd quarter. Telemus Capital LLC now owns 1,317 shares of the information technology services provider’s stock valued at $736,000 after acquiring an additional 93 shares during the last quarter. Chicago Capital LLC lifted its stake in shares of ServiceNow by 0.3% in the 3rd quarter. Chicago Capital LLC now owns 58,391 shares of the information technology services provider’s stock valued at $32,638,000 after acquiring an additional 162 shares during the last quarter. Finally, Concord Wealth Partners boosted its holdings in ServiceNow by 5.9% during the 3rd quarter. Concord Wealth Partners now owns 556 shares of the information technology services provider’s stock valued at $311,000 after acquiring an additional 31 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a report on Tuesday, April 23rd. Royal Bank of Canada upped their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. UBS Group reduced their price target on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Truist Financial increased their price objective on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $807.28.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 in the company, valued at $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 11,369 shares of company stock worth $8,538,300 in the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $716.65 on Friday. The company has a 50 day simple moving average of $753.36 and a two-hundred day simple moving average of $713.00. ServiceNow, Inc. has a fifty-two week low of $428.97 and a fifty-two week high of $815.32. The company has a market capitalization of $147.19 billion, a price-to-earnings ratio of 76.65, a P/E/G ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05.

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.