Summit Trail Advisors LLC Sells 172 Shares of ServiceNow, Inc. (NYSE:NOW)

Summit Trail Advisors LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,414 shares of the information technology services provider’s stock after selling 172 shares during the quarter. Summit Trail Advisors LLC’s holdings in ServiceNow were worth $999,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after buying an additional 122,577 shares in the last quarter. FMR LLC raised its position in shares of ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares in the last quarter. Jennison Associates LLC raised its position in shares of ServiceNow by 2.2% in the 4th 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 buying an additional 53,719 shares in the last quarter. Northern Trust Corp raised its position in shares of ServiceNow by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock valued at $1,230,994,000 after buying 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% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock valued at $1,230,114,000 after buying an additional 72,570 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, 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 value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,369 shares of company stock valued at $8,538,300. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Up 1.4 %

Shares of NYSE NOW traded up $9.92 during mid-day trading on Monday, hitting $726.57. The stock had a trading volume of 1,189,768 shares, compared to its average volume of 1,223,759. 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 business has a 50 day moving average price of $753.36 and a two-hundred day moving average price of $715.16. The firm has a market cap of $149.22 billion, a P/E ratio of 77.50, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $429.05 and a 1 year high of $815.32.

Analyst Ratings Changes

Several brokerages have recently commented on NOW. Jefferies Financial Group boosted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Oppenheimer lifted their price target on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Wells Fargo & Company lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Mizuho lifted their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $807.28.

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.