Kingswood Wealth Advisors LLC Reduces Position in ServiceNow, Inc. (NYSE:NOW)

Kingswood Wealth Advisors LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 70.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,243 shares of the information technology services provider’s stock after selling 3,013 shares during the period. Kingswood Wealth Advisors LLC’s holdings in ServiceNow were worth $1,318,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Creative Planning raised its stake in shares of ServiceNow by 98.1% in the second quarter. Creative Planning now owns 51,717 shares of the information technology services provider’s stock worth $40,685,000 after purchasing an additional 25,608 shares during the last quarter. Nemes Rush Group LLC raised its position in ServiceNow by 65.9% during the 2nd quarter. Nemes Rush Group LLC now owns 277 shares of the information technology services provider’s stock worth $218,000 after buying an additional 110 shares during the last quarter. NewEdge Advisors LLC lifted its stake in ServiceNow by 15.0% during the 2nd quarter. NewEdge Advisors LLC now owns 24,778 shares of the information technology services provider’s stock valued at $19,493,000 after acquiring an additional 3,223 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ServiceNow by 9.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,561 shares of the information technology services provider’s stock valued at $13,027,000 after acquiring an additional 1,484 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its stake in shares of ServiceNow by 1.8% in the second quarter. Sunbelt Securities Inc. now owns 3,538 shares of the information technology services provider’s stock worth $2,783,000 after acquiring an additional 63 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 target price for the company. Robert W. Baird upped their target price on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Finally, Citigroup lifted their target price on shares of ServiceNow from $1,071.00 to $1,432.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,105.79.

ServiceNow Trading Up 1.4 %

Shares of ServiceNow stock opened at $1,140.70 on Tuesday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,165.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $234.98 billion, a P/E ratio of 177.40, a P/E/G ratio of 5.11 and a beta of 0.99. The stock’s 50 day simple moving average is $1,077.07 and its 200-day simple moving average is $945.28.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,060,115.38. The trade was a 2.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kevin Thomas Mcbride sold 100 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the sale, the insider now owns 3,457 shares of the company’s stock, valued at $3,539,864.29. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,731 shares of company stock valued at $21,016,751. Insiders own 0.25% of the company’s stock.

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.