Lincoln National Corp Grows Position in ServiceNow, Inc. (NYSE:NOW)

Lincoln National Corp grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,373 shares of the information technology services provider’s stock after acquiring an additional 136 shares during the quarter. Lincoln National Corp’s holdings in ServiceNow were worth $2,383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Sandbox Financial Partners LLC increased its holdings in shares of ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after buying an additional 66 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of ServiceNow by 19.8% in the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after purchasing an additional 49,631 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of ServiceNow by 5.9% in the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares during the period. Dohj LLC bought a new position in shares of ServiceNow during the 4th quarter valued at approximately $913,000. Finally, Sequoia Financial Advisors LLC increased its position in shares of ServiceNow by 15.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock valued at $18,175,000 after purchasing an additional 3,438 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOW has been the subject of several analyst reports. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Morgan Stanley upped their target price on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Citigroup increased their price target on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Wells Fargo & Company boosted their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $807.88.

ServiceNow Stock Down 1.8 %

NOW traded down $13.03 on Tuesday, hitting $713.53. The company had a trading volume of 1,552,504 shares, compared to its average volume of 1,227,506. The stock has a market capitalization of $146.54 billion, a price-to-earnings ratio of 76.15, 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. The stock has a fifty day moving average price of $752.29 and a 200-day moving average price of $716.34. ServiceNow, Inc. has a 12-month low of $429.05 and a 12-month high of $815.32.

Insider Activity

In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 approximately $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of the business’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 transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,369 shares of company stock worth $8,538,300. Corporate insiders own 0.25% of the company’s stock.

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.