Stonegate Investment Group LLC Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Stonegate Investment Group LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 16.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,288 shares of the information technology services provider’s stock after buying an additional 741 shares during the quarter. Stonegate Investment Group LLC’s holdings in ServiceNow were worth $4,032,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sandbox Financial Partners LLC boosted its stake in shares of ServiceNow by 8.6% during the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after buying an additional 66 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of ServiceNow by 19.8% in the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after purchasing an additional 49,631 shares in the last quarter. Raymond James & Associates lifted its position in shares of ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares during the last quarter. Dohj LLC acquired a new stake in ServiceNow during the fourth quarter valued at approximately $913,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in ServiceNow by 15.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after buying an additional 3,438 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NOW shares. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Morgan Stanley lifted their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Thursday, April 25th. Royal Bank of Canada boosted their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company boosted their target price 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. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $807.28.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over 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 insiders.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $27.83 during trading on Tuesday, hitting $693.33. 1,973,291 shares of the company’s stock traded hands, compared to its average volume of 1,221,041. ServiceNow, Inc. has a twelve month low of $428.97 and a twelve month 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. The company has a market cap of $142.40 billion, a PE ratio of 74.15, a PEG ratio of 4.83 and a beta of 0.97. The firm’s fifty day moving average price is $757.16 and its 200 day moving average price is $712.16.

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.