ServiceNow, Inc. (NYSE:NOW) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,756 shares of the information technology services provider’s stock after selling 359 shares during the quarter. Metis Global Partners LLC’s holdings in ServiceNow were worth $7,599,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after buying an additional 820,465 shares in the last quarter. FMR LLC boosted 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 worth $2,256,407,000 after purchasing an additional 595,697 shares during the period. Jennison Associates LLC grew its position in ServiceNow by 23.0% during the 3rd quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after purchasing an additional 461,614 shares in the last quarter. Cerity Partners LLC raised its stake in ServiceNow by 1,073.7% during the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after purchasing an additional 371,648 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of ServiceNow in the third quarter valued at $135,075,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated 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 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 filing with the SEC, which is available through the SEC website. Also, insider Paul John Smith sold 5,159 shares of the business’s 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 in the company, valued at $4,064,229.96. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock worth $8,538,300 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 3.0 %

NOW traded up $20.93 during mid-day trading on Friday, hitting $716.65. The stock had a trading volume of 1,437,055 shares, compared to its average volume of 1,270,596. The stock’s fifty day simple moving average is $753.36 and its 200-day simple moving average is $715.16. 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 4.50 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $428.97 and a 1-year high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOW. Oppenheimer lifted their target price on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Royal Bank of Canada upped their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Piper Sandler boosted their target price on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company raised their price target on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price 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.