PFG Investments LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

PFG Investments LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,355 shares of the information technology services provider’s stock after acquiring an additional 135 shares during the period. PFG Investments LLC’s holdings in ServiceNow were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in NOW. Truvestments Capital LLC purchased a new position in shares of ServiceNow during the third quarter worth about $30,000. DT Investment Partners LLC raised its stake in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. Oakworth Capital Inc. lifted its holdings in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the period. Dunhill Financial LLC grew its position in ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares during the last quarter. Finally, Vestor Capital LLC purchased a new stake in shares of ServiceNow in the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now directly owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,731 shares of company stock worth $21,016,751. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on NOW shares. Oppenheimer lifted their price target on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald began coverage on ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price on the stock. Evercore ISI upped their price target on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Raymond James began coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,105.79.

ServiceNow Trading Up 1.4 %

NOW opened at $1,140.70 on Tuesday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,165.98. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $1,077.07 and a 200 day moving average of $945.28. The firm 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.

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.