Altshuler Shaham Ltd Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Altshuler Shaham Ltd raised its stake in ServiceNow, Inc. (NYSE:NOW) by 155.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97 shares of the information technology services provider’s stock after purchasing an additional 59 shares during the quarter. Altshuler Shaham Ltd’s holdings in ServiceNow were worth $69,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wealthspire Advisors LLC grew its stake in ServiceNow by 80.0% in the fourth quarter. Wealthspire Advisors LLC now owns 1,627 shares of the information technology services provider’s stock worth $1,149,000 after purchasing an additional 723 shares in the last quarter. Catalyst Financial Partners LLC grew its stake in ServiceNow by 6.9% in the fourth quarter. Catalyst Financial Partners LLC now owns 1,021 shares of the information technology services provider’s stock worth $721,000 after purchasing an additional 66 shares in the last quarter. National Pension Service boosted its stake in ServiceNow by 1.8% in the fourth quarter. National Pension Service now owns 325,594 shares of the information technology services provider’s stock valued at $230,029,000 after acquiring an additional 5,892 shares during the period. Sovereign Financial Group Inc. acquired a new position in ServiceNow in the fourth quarter valued at approximately $254,000. Finally, Palisade Asset Management LLC acquired a new position in ServiceNow in the fourth quarter valued at approximately $212,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on 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 completion of the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 5,159 shares of ServiceNow 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 transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,559 shares of company stock valued at $8,674,868. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank of Canada lifted their target price on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Wells Fargo & Company lifted their price target on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Needham & Company LLC reissued a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Tuesday. Morgan Stanley boosted their target price on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a report on Tuesday. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $807.88.

ServiceNow Price Performance

Shares of NOW stock traded up $2.13 during mid-day trading on Thursday, reaching $723.16. The company’s stock had a trading volume of 1,050,016 shares, compared to its average volume of 1,224,649. ServiceNow, Inc. has a 1-year low of $446.25 and a 1-year high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The company has a market cap of $148.52 billion, a P/E ratio of 77.32, a PEG ratio of 4.50 and a beta of 0.98. The firm’s 50-day moving average is $750.45 and its two-hundred day moving average is $717.57.

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.