Bailard Inc. grew its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,574 shares of the information technology services provider’s stock after purchasing an additional 2,026 shares during the period. Bailard Inc.’s holdings in ServiceNow were worth $10,758,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. CLARET ASSET MANAGEMENT Corp acquired a new position in ServiceNow during the third quarter worth $204,000. Public Sector Pension Investment Board lifted its position in shares of ServiceNow by 7.9% in the third quarter. Public Sector Pension Investment Board now owns 33,410 shares of the information technology services provider’s stock valued at $20,790,000 after acquiring an additional 2,460 shares in the last quarter. DNB Asset Management AS lifted its position in ServiceNow by 6.7% during the fourth quarter. DNB Asset Management AS now owns 32,989 shares of the information technology services provider’s stock worth $21,413,000 after buying an additional 2,085 shares during the period. Lloyd Advisory Services LLC. lifted its position in ServiceNow by 22.5% during the fourth quarter. Lloyd Advisory Services LLC. now owns 125 shares of the information technology services provider’s stock worth $81,000 after buying an additional 23 shares during the period. Finally, Zacks Investment Management lifted its position in ServiceNow by 1,453.0% during the third quarter. Zacks Investment Management now owns 13,511 shares of the information technology services provider’s stock worth $8,408,000 after buying an additional 12,641 shares during the period. 87.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE NOW traded up $19.71 during mid-day trading on Friday, hitting $452.65. The company had a trading volume of 2,093,565 shares, compared to its average volume of 1,754,470. The stock has a market cap of $90.74 billion, a price-to-earnings ratio of 411.50, a PEG ratio of 8.23 and a beta of 1.09. ServiceNow, Inc. has a 12 month low of $406.47 and a 12 month high of $707.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s 50 day simple moving average is $516.26 and its two-hundred day simple moving average is $577.81.
Several research firms recently weighed in on NOW. Citigroup increased their target price on ServiceNow from $623.00 to $656.00 in a research report on Thursday, April 28th. Morgan Stanley dropped their price target on ServiceNow from $810.00 to $745.00 in a research note on Thursday, April 28th. Canaccord Genuity Group dropped their price target on ServiceNow from $715.00 to $615.00 in a research note on Thursday, January 27th. Piper Sandler upgraded ServiceNow from a “neutral” rating to an “overweight” rating and set a $650.00 price target for the company in a research note on Thursday, January 27th. Finally, Cowen dropped their price target on ServiceNow from $725.00 to $695.00 in a research note on Thursday, April 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Buy” and an average target price of $664.74.
In other news, CFO Gina Mastantuono sold 719 shares of ServiceNow stock in a transaction on Friday, February 18th. The stock was sold at an average price of $565.96, for a total transaction of $406,925.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Chirantan Jitendra Desai sold 3,000 shares of ServiceNow stock in a transaction on Monday, February 14th. The shares were sold at an average price of $578.48, for a total value of $1,735,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,007 shares of company stock worth $12,332,620 in the last ninety days. 0.35% of the stock is owned by company insiders.
ServiceNow Profile (Get Rating)
ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
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