Principle Wealth Partners LLC Has $1.62 Million Position in ServiceNow, Inc. (NYSE:NOW)

Principle Wealth Partners LLC lessened its position in ServiceNow, Inc. (NYSE:NOW) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 2,298 shares of the information technology services provider’s stock after selling 20 shares during the quarter. Principle Wealth Partners LLC’s holdings in ServiceNow were worth $1,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Argonautica Private Wealth Management Inc. boosted its stake in shares of ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after purchasing an additional 13 shares in the last quarter. Wealth Management Partners LLC raised its holdings in shares of ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after buying an additional 14 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 14 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of ServiceNow by 8.6% in the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after buying an additional 15 shares during the last quarter. Finally, Claro Advisors LLC raised its holdings in shares of ServiceNow by 3.6% in the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. In the last three months, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of NOW opened at $723.55 on Monday. 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 stock has a 50 day simple moving average of $759.21 and a 200 day simple moving average of $710.01. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The firm has a market capitalization of $148.60 billion, a PE ratio of 77.39, a P/E/G ratio of 4.83 and a beta of 0.97.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NOW. 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. Barclays lifted their price target on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Mizuho boosted their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. BMO Capital Markets dropped their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.