TCG Advisory Services LLC Purchases New Shares in ServiceNow, Inc. (NYSE:NOW)

TCG Advisory Services LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,162 shares of the information technology services provider’s stock, valued at approximately $2,234,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of ServiceNow by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after buying an additional 122,577 shares during the period. FMR LLC lifted its holdings in ServiceNow by 17.3% during the third 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 in the last quarter. Jennison Associates LLC grew its position in shares of ServiceNow by 2.2% in the fourth 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 during the period. Northern Trust Corp increased its stake in shares of ServiceNow by 1.8% during the third 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of ServiceNow by 3.4% during the 3rd 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 purchasing an additional 72,570 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’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 transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. 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 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Up 3.0 %

NYSE:NOW traded up $20.93 on Friday, reaching $716.65. 1,437,055 shares of the company’s stock were exchanged, compared to its average volume of 1,270,596. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $147.19 billion, a price-to-earnings ratio of 76.65, a price-to-earnings-growth ratio of 4.37 and a beta of 0.98. The business has a fifty day moving average of $753.36 and a 200-day moving average of $713.00. ServiceNow, Inc. has a 52-week low of $428.97 and a 52-week high of $815.32.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BMO Capital Markets lowered their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a research report on Tuesday, April 23rd. Stifel Nicolaus restated a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a report on Wednesday, March 20th. KeyCorp dropped their target price on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $807.28.

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.