FormulaFolio Investments LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 47.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,166 shares of the information technology services provider’s stock after acquiring an additional 377 shares during the quarter. FormulaFolio Investments LLC’s holdings in ServiceNow were worth $642,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in ServiceNow by 372.7% in the fourth quarter. Allworth Financial LP now owns 52 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 41 shares in the last quarter. Sterling Financial Planning Inc. bought a new position in ServiceNow in the fourth quarter valued at approximately $30,000. Birchcreek Wealth Management LLC bought a new position in ServiceNow in the fourth quarter valued at approximately $33,000. Kistler Tiffany Companies LLC bought a new position in ServiceNow in the fourth quarter valued at approximately $34,000. Finally, Clearview Wealth Advisors LLC bought a new position in ServiceNow in the fourth quarter valued at approximately $34,000. 87.20% of the stock is currently owned by institutional investors and hedge funds.
ServiceNow stock opened at $510.73 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.40 and a current ratio of 1.40. ServiceNow, Inc. has a 52-week low of $263.90 and a 52-week high of $598.37. The firm has a 50 day moving average price of $509.53 and a two-hundred day moving average price of $521.55. The firm has a market cap of $100.15 billion, a price-to-earnings ratio of 144.68, a PEG ratio of 12.70 and a beta of 1.14.
A number of brokerages have weighed in on NOW. Bank of America began coverage on shares of ServiceNow in a research note on Wednesday, December 16th. They issued a “buy” rating and a $650.00 price target on the stock. Mizuho lifted their price objective on shares of ServiceNow from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, January 28th. Raymond James lifted their price objective on shares of ServiceNow from $575.00 to $600.00 and gave the company a “strong-buy” rating in a report on Thursday, January 28th. Zacks Investment Research upgraded shares of ServiceNow from a “sell” rating to a “hold” rating and set a $560.00 target price on the stock in a report on Friday, February 26th. Finally, Oppenheimer boosted their target price on shares of ServiceNow from $600.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Two investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. ServiceNow has a consensus rating of “Buy” and an average target price of $600.41.
In other ServiceNow news, Director Paul Edward Chamberlain sold 75 shares of ServiceNow stock in a transaction on Friday, January 29th. The shares were sold at an average price of $549.08, for a total transaction of $41,181.00. Following the transaction, the director now directly owns 9,499 shares of the company’s stock, valued at approximately $5,215,710.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 16,500 shares of ServiceNow stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $582.10, for a total transaction of $9,604,650.00. Following the transaction, the director now directly owns 811 shares in the company, valued at $472,083.10. The disclosure for this sale can be found here. Insiders sold a total of 32,005 shares of company stock valued at $18,116,418 in the last quarter. 1.00% of the stock is currently owned by company insiders.
ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform that offers workflow automation, artificial intelligence, machine learning, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
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