Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $235.50 Million Position in ServiceNow, Inc. (NYSE:NOW)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 307,684 shares of the information technology services provider’s stock after selling 1,444 shares during the quarter. ServiceNow makes up approximately 2.3% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 14th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.15% of ServiceNow worth $235,500,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NOW. International Assets Investment Management LLC lifted its stake in ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after acquiring an additional 820,465 shares during the last quarter. FMR LLC lifted its stake in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after acquiring an additional 595,697 shares during the last quarter. Jennison Associates LLC lifted its stake in ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after acquiring an additional 461,614 shares during the last quarter. Cerity Partners LLC lifted its stake in ServiceNow by 1,073.7% in the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after acquiring an additional 371,648 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in ServiceNow in the third quarter valued at approximately $135,075,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research note on Tuesday, April 16th. The Goldman Sachs Group lifted their target price on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. KeyCorp began coverage on shares of ServiceNow in a research report on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price target on the stock. Jefferies Financial Group lifted their price target 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. Finally, Truist Financial lifted their price target on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Stock Performance

ServiceNow stock traded up $8.66 on Monday, hitting $722.57. The company’s stock had a trading volume of 1,464,166 shares, compared to its average volume of 1,179,827. The firm has a market cap of $148.40 billion, a P/E ratio of 85.92, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average price of $762.90 and a 200-day moving average price of $705.19. ServiceNow, Inc. has a one year low of $427.68 and a one year high of $815.32.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, equities analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,164 shares of company stock worth $9,940,303. Corporate insiders own 0.25% of the company’s stock.

ServiceNow 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.