ServiceNow, Inc. (NYSE:NOW) Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,149,686 shares of the information technology services provider’s stock after acquiring an additional 39,146 shares during the period. Charles Schwab Investment Management Inc. owned about 0.56% of ServiceNow worth $812,242,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. AdvisorNet Financial Inc raised its position in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in shares of ServiceNow during the third quarter worth $35,000. Disciplined Equity Management Inc. bought a new position in ServiceNow in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new position in shares of ServiceNow during the third quarter worth about $41,000. Finally, Fortitude Family Office LLC acquired a new stake in ServiceNow in the 4th quarter valued at $41,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on 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 sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 5,159 shares of the 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 transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Insiders sold 11,369 shares of company stock valued at $8,538,300 over the last 90 days. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Piper Sandler boosted their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Wells Fargo & Company boosted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. KeyCorp reduced their price objective on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, Citigroup upped their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $807.88.

ServiceNow Trading Down 1.8 %

Shares of NYSE:NOW traded down $13.03 on Tuesday, hitting $713.53. 1,552,504 shares of the company’s stock were exchanged, compared to its average volume of 1,227,506. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The stock has a market capitalization of $146.54 billion, a price-to-earnings ratio of 76.31, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. The business’s 50 day simple moving average is $751.22 and its two-hundred day simple moving average is $717.54. ServiceNow, Inc. has a 12 month low of $429.05 and a 12 month high of $815.32.

ServiceNow Company Profile

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.