Principle Wealth Partners LLC Lowers Position in ServiceNow, Inc. (NYSE:NOW)

Principle Wealth Partners LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,298 shares of the information technology services provider’s stock after selling 20 shares during the quarter. Principle Wealth Partners LLC’s holdings in ServiceNow were worth $1,624,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. PGGM Investments acquired a new position in ServiceNow during the fourth quarter valued at approximately $500,000. Intact Investment Management Inc. lifted its position in ServiceNow by 4.7% during the fourth quarter. Intact Investment Management Inc. now owns 1,340 shares of the information technology services provider’s stock valued at $947,000 after buying an additional 60 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its position in ServiceNow by 0.7% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 7,774 shares of the information technology services provider’s stock valued at $5,492,000 after buying an additional 56 shares in the last quarter. Dohj LLC acquired a new position in ServiceNow during the fourth quarter valued at approximately $913,000. Finally, Addison Advisors LLC lifted its position in ServiceNow by 28.8% during the fourth quarter. Addison Advisors LLC now owns 103 shares of the information technology services provider’s stock valued at $73,000 after buying an additional 23 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Up 1.0 %

ServiceNow stock opened at $723.55 on Monday. The company has a 50-day simple moving average of $759.21 and a 200-day simple moving average of $710.01. The firm has a market capitalization of $148.60 billion, a P/E ratio of 77.39, a P/E/G ratio of 4.83 and a beta of 0.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. ServiceNow, Inc. has a one year low of $427.68 and a one year high of $815.32.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last three months, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on NOW shares. Royal Bank of Canada lifted their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Piper Sandler boosted their target price on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Thursday. Oppenheimer boosted their target price on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Finally, Morgan Stanley boosted their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $807.28.

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.