Norden Group LLC Cuts Holdings in ServiceNow, Inc. (NYSE:NOW)

Norden Group LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 15.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,734 shares of the information technology services provider’s stock after selling 1,018 shares during the period. ServiceNow accounts for 0.7% of Norden Group LLC’s portfolio, making the stock its 11th largest position. Norden Group LLC’s holdings in ServiceNow were worth $4,051,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings 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 worth $9,923,653,000 after acquiring an additional 122,577 shares during the last quarter. FMR LLC raised its stake in shares of ServiceNow by 17.3% during 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 holdings in 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 worth $1,781,195,000 after buying an additional 53,719 shares during the period. Northern Trust Corp raised its holdings in shares of ServiceNow by 1.8% during the third 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 acquiring an additional 39,259 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in ServiceNow by 3.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock worth $1,230,114,000 after acquiring an additional 72,570 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 3.3 %

Shares of NYSE:NOW traded down $23.94 during trading on Tuesday, reaching $697.22. 1,110,224 shares of the stock traded hands, compared to its average volume of 1,209,483. ServiceNow, Inc. has a 52-week low of $428.97 and a 52-week high of $815.32. The stock has a market cap of $143.20 billion, a P/E ratio of 75.30, a price-to-earnings-growth ratio of 4.83 and a beta of 0.97. The stock has a 50-day moving average of $758.35 and a two-hundred day moving average of $711.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was 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 directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the 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 in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,369 shares of company stock worth $8,538,300. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of a number of research analyst reports. Truist Financial boosted their price objective 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. Oppenheimer increased their price target on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Piper Sandler lifted their price objective on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. UBS Group reduced their target price on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, JMP Securities restated a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.