Swedbank AB Decreases Position in ServiceNow, Inc. (NYSE:NOW)

Swedbank AB reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,101,643 shares of the information technology services provider’s stock after selling 57,762 shares during the quarter. ServiceNow accounts for approximately 1.4% of Swedbank AB’s holdings, making the stock its 11th largest holding. Swedbank AB’s holdings in ServiceNow were worth $1,167,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. Redhawk Wealth Advisors Inc. increased its holdings in shares of ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares during the last quarter. Catalyst Financial Partners LLC grew its position in ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after buying an additional 11 shares in the last quarter. First Affirmative Financial Network lifted its position in ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 12 shares in the last quarter. Finally, BluePointe Capital Management LLC boosted its stake in ServiceNow by 0.6% in the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NOW shares. JPMorgan Chase & Co. increased their target price on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday. Scotiabank initiated coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price for the company. Piper Sandler upped their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Raymond James began coverage on ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,116.14.

ServiceNow Stock Performance

Shares of NOW traded down $23.66 during trading hours on Wednesday, hitting $1,146.73. The company’s stock had a trading volume of 200,378 shares, compared to its average volume of 1,264,499. The company has a market cap of $236.23 billion, a price-to-earnings ratio of 178.61, a PEG ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. 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 business has a 50 day simple moving average of $1,082.77 and a two-hundred day simple moving average of $950.94.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the sale, the director now directly owns 10,467 shares in the company, valued at $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. Corporate 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.