Swiss National Bank Cuts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Swiss National Bank decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 638,900 shares of the information technology services provider’s stock after selling 16,300 shares during the quarter. Swiss National Bank owned about 0.31% of ServiceNow worth $451,376,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. West Family Investments Inc. raised its position in shares of ServiceNow by 6.8% in the 4th quarter. West Family Investments Inc. now owns 585 shares of the information technology services provider’s stock worth $413,000 after purchasing an additional 37 shares during the last quarter. Fisher Asset Management LLC increased its stake in ServiceNow by 7.4% during the 4th quarter. Fisher Asset Management LLC now owns 1,447,294 shares of the information technology services provider’s stock valued at $1,022,500,000 after purchasing an additional 100,331 shares in the last quarter. Robertson Stephens Wealth Management LLC purchased a new position in ServiceNow in the fourth quarter worth about $201,000. First Trust Direct Indexing L.P. lifted its stake in shares of ServiceNow by 30.8% in the fourth quarter. First Trust Direct Indexing L.P. now owns 4,549 shares of the information technology services provider’s stock worth $3,214,000 after buying an additional 1,070 shares in the last quarter. Finally, New York Life Investment Management LLC grew its holdings in shares of ServiceNow by 1.0% during the fourth quarter. New York Life Investment Management LLC now owns 32,099 shares of the information technology services provider’s stock valued at $22,678,000 after buying an additional 326 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on NOW. UBS Group decreased their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group upped their price target on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, January 25th. KeyCorp decreased their target price on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Mizuho upped their target price on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Robert W. Baird lifted their price target on shares of ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $807.28.

ServiceNow Trading Up 1.1 %

Shares of NYSE:NOW traded up $7.31 during trading on Thursday, reaching $692.92. The company’s stock had a trading volume of 430,504 shares, compared to its average volume of 1,212,355. The stock has a market capitalization of $142.31 billion, a PE ratio of 73.90, a price-to-earnings-growth ratio of 4.35 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $428.97 and a 12 month high of $815.32. 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’s 50 day simple moving average is $755.91 and its two-hundred day simple moving average is $711.97.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 in the company, valued at approximately $1,067,831.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 11,369 shares of company stock worth $8,538,300 over the last ninety days. Company 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.