Bay Rivers Group Has $2.75 Million Position in ServiceNow, Inc. (NYSE:NOW)

Bay Rivers Group trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,589 shares of the information technology services provider’s stock after selling 146 shares during the quarter. ServiceNow comprises approximately 1.3% of Bay Rivers Group’s holdings, making the stock its 27th largest position. Bay Rivers Group’s holdings in ServiceNow were worth $2,745,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Creative Planning increased its stake in ServiceNow by 98.1% during the second quarter. Creative Planning now owns 51,717 shares of the information technology services provider’s stock valued at $40,685,000 after acquiring an additional 25,608 shares during the period. Nemes Rush Group LLC grew 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 acquiring an additional 110 shares during the last quarter. NewEdge Advisors LLC lifted its position 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 worth $19,493,000 after buying an additional 3,223 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in ServiceNow by 9.8% in the second 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. raised its stake in shares of ServiceNow by 1.8% during the second quarter. Sunbelt Securities Inc. now owns 3,538 shares of the information technology services provider’s stock worth $2,783,000 after buying an additional 63 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Guggenheim reiterated a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Robert W. Baird increased their price target on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,105.79.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

NYSE:NOW opened at $1,140.70 on Tuesday. The firm has a market capitalization of $234.98 billion, a price-to-earnings ratio of 177.40, a P/E/G ratio of 5.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty day moving average of $1,077.07 and a 200 day moving average of $945.28. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,165.98.

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.