ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Summit Global Investments

Summit Global Investments increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 79.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 671 shares of the information technology services provider’s stock after buying an additional 297 shares during the quarter. Summit Global Investments’ holdings in ServiceNow were worth $474,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC grew its holdings in ServiceNow by 41.8% during the third quarter. Stratos Wealth Advisors LLC now owns 577 shares of the information technology services provider’s stock worth $323,000 after acquiring an additional 170 shares during the period. Concord Wealth Partners lifted its stake in ServiceNow by 5.9% during the third quarter. Concord Wealth Partners now owns 556 shares of the information technology services provider’s stock valued at $311,000 after purchasing an additional 31 shares during the last quarter. Lindbrook Capital LLC lifted its stake in ServiceNow by 4.0% during the third quarter. Lindbrook Capital LLC now owns 1,148 shares of the information technology services provider’s stock valued at $642,000 after purchasing an additional 44 shares during the last quarter. Calamos Wealth Management LLC boosted its holdings in ServiceNow by 38.5% during the third quarter. Calamos Wealth Management LLC now owns 17,277 shares of the information technology services provider’s stock worth $9,657,000 after buying an additional 4,800 shares in the last quarter. Finally, Castleview Partners LLC grew its position in ServiceNow by 6.4% in the third quarter. Castleview Partners LLC now owns 1,185 shares of the information technology services provider’s stock worth $662,000 after buying an additional 71 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOW. JMP Securities reissued a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a research note on Tuesday, April 23rd. Truist Financial raised their target price on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Citigroup boosted their price target on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Royal Bank of Canada raised their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Robert W. Baird boosted their target price on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $807.28.

ServiceNow Stock Up 3.0 %

NOW stock opened at $716.65 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The company has a 50-day moving average of $753.36 and a two-hundred day moving average of $715.16. The stock has a market capitalization of $147.19 billion, a price-to-earnings ratio of 76.65, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $428.97 and a 52-week high of $815.32.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock worth $8,538,300 in the last 90 days. 0.25% of the stock is owned by company insiders.

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.