Premier Path Wealth Partners LLC Purchases 254 Shares of ServiceNow, Inc. $NOW

Premier Path Wealth Partners LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 15.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,921 shares of the information technology services provider’s stock after purchasing an additional 254 shares during the period. Premier Path Wealth Partners LLC’s holdings in ServiceNow were worth $1,975,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NOW. Vanguard Group Inc. increased its stake in shares of ServiceNow by 1.6% in the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after buying an additional 297,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in ServiceNow by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock worth $2,263,519,000 after buying an additional 188,292 shares during the period. Jennison Associates LLC grew its holdings in ServiceNow by 18.1% during the 2nd quarter. Jennison Associates LLC now owns 2,376,714 shares of the information technology services provider’s stock worth $2,443,452,000 after acquiring an additional 363,793 shares during the last quarter. Nuveen LLC bought a new stake in ServiceNow during the 1st quarter worth approximately $1,817,535,000. Finally, Alliancebernstein L.P. increased its position in ServiceNow by 16.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock valued at $1,379,461,000 after acquiring an additional 242,132 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

NOW stock opened at $911.75 on Thursday. The firm has a market cap of $189.64 billion, a PE ratio of 114.83, a price-to-earnings-growth ratio of 4.23 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $920.43 and a 200-day moving average price of $946.08. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NOW. Oppenheimer reiterated an “outperform” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. BMO Capital Markets raised their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Bank of America upped their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Cowen reissued a “buy” rating on shares of ServiceNow in a research note on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,124.17.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the transaction, the general counsel directly owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider directly owned 457 shares of the company’s stock, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,980 shares of company stock valued at $16,049,017 in the last 90 days. Company insiders own 0.38% of the company’s stock.

About ServiceNow

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.