Wells Fargo & Company MN Has $573.89 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Wells Fargo & Company MN grew its holdings in ServiceNow, Inc. (NYSE:NOWFree Report) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 812,312 shares of the information technology services provider’s stock after purchasing an additional 5,669 shares during the quarter. Wells Fargo & Company MN owned about 0.40% of ServiceNow worth $573,890,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Argonautica Private Wealth Management Inc. raised its holdings in ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after buying an additional 13 shares during the period. Wealth Management Partners LLC increased its holdings in ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after buying an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 14 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of ServiceNow by 8.6% during the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after purchasing an additional 15 shares during the last quarter. Finally, Claro Advisors LLC lifted its stake in shares of ServiceNow by 3.6% in the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after acquiring an additional 15 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOW. Wells Fargo & Company increased their target price on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Mizuho raised their price objective on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Barclays raised their price target on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 23rd. Citigroup boosted their price target on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Robert W. Baird upped their target price on ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $808.73.

View Our Latest Analysis on NOW

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $6.09 during trading hours on Monday, hitting $771.14. The stock had a trading volume of 398,478 shares, compared to its average volume of 1,204,993. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. ServiceNow, Inc. has a 1-year low of $494.13 and a 1-year high of $815.32. The stock’s fifty day simple moving average is $747.66 and its 200 day simple moving average is $727.64. The firm has a market capitalization of $158.08 billion, a price-to-earnings ratio of 82.25, a PEG ratio of 4.80 and a beta of 0.98.

ServiceNow (NYSE:NOWGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.49 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul John Smith sold 190 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the sale, the insider now owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated 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 transaction, 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 quarter, insiders sold 10,504 shares of company stock worth $7,860,589. 0.25% of the stock is owned by corporate insiders.

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.

Further Reading

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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