Provence Wealth Management Group Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Provence Wealth Management Group grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 689 shares of the information technology services provider’s stock after purchasing an additional 98 shares during the quarter. Provence Wealth Management Group’s holdings in ServiceNow were worth $487,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NOW. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after acquiring an additional 122,577 shares during the last quarter. FMR LLC raised its stake in ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Jennison Associates LLC lifted its holdings in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after purchasing an additional 53,719 shares in the last quarter. Northern Trust Corp boosted its stake in shares of ServiceNow by 1.8% during the 3rd quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock worth $1,230,994,000 after purchasing an additional 39,259 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of ServiceNow by 3.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock worth $1,230,114,000 after buying an additional 72,570 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on NOW. Robert W. Baird raised their target price on shares of ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Thursday, April 25th. Stifel Nicolaus reiterated a “buy” rating and set a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. Jefferies Financial Group lifted their price target on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Piper Sandler upped their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $807.28.

Insider Transactions at ServiceNow

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

ServiceNow Trading Up 3.0 %

Shares of NYSE:NOW traded up $20.93 during midday trading on Friday, reaching $716.65. The company had a trading volume of 1,437,055 shares, compared to its average volume of 1,270,596. The company has a fifty day simple moving average of $753.36 and a two-hundred day simple moving average of $713.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The firm has a market cap of $147.19 billion, a price-to-earnings ratio of 76.65, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $428.97 and a 1-year high of $815.32.

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.