Connecticut Wealth Management LLC Takes $1.21 Million Position in ServiceNow, Inc. (NYSE:NOW)

Connecticut Wealth Management LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,710 shares of the information technology services provider’s stock, valued at approximately $1,208,000.

Other large investors also recently modified their holdings of the company. Avalon Trust Co raised its holdings in shares of ServiceNow by 153.3% during the fourth quarter. Avalon Trust Co now owns 76 shares of the information technology services provider’s stock valued at $54,000 after purchasing an additional 46 shares during the period. FourThought Financial Partners LLC grew its holdings in shares of ServiceNow by 0.6% during the fourth quarter. FourThought Financial Partners LLC now owns 9,733 shares of the information technology services provider’s stock valued at $6,876,000 after buying an additional 58 shares during the last quarter. TCG Advisory Services LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $2,234,000. AJOVista LLC purchased a new stake in ServiceNow in the 4th quarter valued at $157,000. Finally, Provence Wealth Management Group grew its stake in shares of ServiceNow by 16.6% in the 4th quarter. Provence Wealth Management Group now owns 689 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 98 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent analyst reports. Citigroup lifted their target price on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Truist Financial boosted their price objective on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Morgan Stanley lifted their target price on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Mizuho boosted their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group increased their price objective on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $807.28.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction 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 1,180 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the company’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 completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 11,369 shares of company stock worth $8,538,300 over the last 90 days. 0.25% of the stock is owned by company insiders.

ServiceNow Trading Up 3.0 %

NYSE:NOW traded up $20.93 during trading hours on Friday, hitting $716.65. The company had a trading volume of 1,437,055 shares, compared to its average volume of 1,270,596. The stock has a 50-day moving average price of $753.36 and a 200 day moving average price of $715.16. ServiceNow, Inc. has a 52 week low of $428.97 and a 52 week high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The company has a market capitalization of $147.19 billion, a PE ratio of 76.65, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98.

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.