Hartford Investment Management Co. Reduces Stake in ServiceNow, Inc. (NYSE:NOW)

Hartford Investment Management Co. reduced its stake in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,813 shares of the information technology services provider’s stock after selling 169 shares during the quarter. Hartford Investment Management Co.’s holdings in ServiceNow were worth $9,759,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of NOW. Norges Bank purchased a new position in ServiceNow in the fourth quarter valued at $872,202,000. Moneta Group Investment Advisors LLC boosted its holdings in ServiceNow by 69,897.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock worth $332,386,000 after buying an additional 854,846 shares during the last quarter. FMR LLC lifted its position in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after acquiring an additional 595,697 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of ServiceNow by 129.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock worth $386,082,000 after acquiring an additional 560,908 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in ServiceNow by 23.0% in the 3rd quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after purchasing an additional 461,614 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paul John Smith sold 1,795 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now owns 994 shares of the company’s stock, valued at approximately $776,373.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,164 shares of company stock valued at $9,940,303. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their target price 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. UBS Group lifted their price target on shares of ServiceNow from $865.00 to $885.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Argus raised their price objective on shares of ServiceNow from $675.00 to $770.00 and gave the company a “buy” rating in a research note on Wednesday, December 6th. Oppenheimer increased their price target on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Finally, Citigroup lifted their price objective on shares of ServiceNow from $862.00 to $896.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $762.96.

View Our Latest Stock Analysis on NOW

ServiceNow Trading Up 0.2 %

Shares of NOW stock traded up $1.87 during mid-day trading on Wednesday, hitting $758.87. 215,733 shares of the company’s stock were exchanged, compared to its average volume of 1,203,820. The stock has a market cap of $155.57 billion, a price-to-earnings ratio of 90.85, a PEG ratio of 4.89 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The stock has a 50-day simple moving average of $770.59 and a two-hundred day simple moving average of $685.61.

ServiceNow (NYSE:NOWGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Equities analysts expect that ServiceNow, Inc. will post 6.11 EPS for the current fiscal year.

About ServiceNow

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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