ServiceNow, Inc. (NYSE:NOW) Shares Sold by Merlin Capital Inc

Merlin Capital Inc lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,073 shares of the information technology services provider’s stock after selling 111 shares during the quarter. ServiceNow comprises 2.4% of Merlin Capital Inc’s portfolio, making the stock its 13th largest position. Merlin Capital Inc’s holdings in ServiceNow were worth $758,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Kestra Private Wealth Services LLC grew its stake in shares of ServiceNow by 32.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 2,324 shares of the information technology services provider’s stock valued at $1,642,000 after buying an additional 570 shares in the last quarter. Naviter Wealth LLC grew its stake in ServiceNow by 23.8% during the 4th quarter. Naviter Wealth LLC now owns 1,463 shares of the information technology services provider’s stock valued at $1,034,000 after purchasing an additional 281 shares in the last quarter. Choreo LLC grew its stake in ServiceNow by 2.7% during the 4th quarter. Choreo LLC now owns 833 shares of the information technology services provider’s stock valued at $589,000 after purchasing an additional 22 shares in the last quarter. Cora Capital Advisors LLC acquired a new stake in ServiceNow during the 4th quarter valued at approximately $213,000. Finally, Silver Oak Securities Incorporated grew its stake in ServiceNow by 2,391.5% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,171 shares of the information technology services provider’s stock valued at $827,000 after purchasing an additional 1,124 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW stock traded down $22.16 during trading on Tuesday, reaching $699.00. 790,037 shares of the company’s stock were exchanged, compared to its average volume of 1,205,608. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a 1-year low of $428.97 and a 1-year high of $815.32. The company’s fifty day moving average price is $758.35 and its 200-day moving average price is $711.15. The firm has a market cap of $143.56 billion, a PE ratio of 75.30, a P/E/G ratio of 4.83 and a beta of 0.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Citigroup lifted their target price on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. The Goldman Sachs Group boosted their price target on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada boosted their price target on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group boosted their price target on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $807.28.

Insiders Place Their Bets

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

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.