ServiceNow, Inc. (NYSE:NOW) Shares Bought by Sheets Smith Wealth Management

Sheets Smith Wealth Management increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 7.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,343 shares of the information technology services provider’s stock after buying an additional 381 shares during the quarter. Sheets Smith Wealth Management’s holdings in ServiceNow were worth $3,775,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Clearstead Trust LLC grew its holdings in ServiceNow by 7.3% during the 4th quarter. Clearstead Trust LLC now owns 4,488 shares of the information technology services provider’s stock worth $3,171,000 after acquiring an additional 304 shares in the last quarter. Connecticut Wealth Management LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth $1,208,000. Avalon Trust Co grew its stake 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 worth $54,000 after purchasing an additional 46 shares in the last quarter. FourThought Financial Partners LLC increased its holdings in ServiceNow by 0.6% in 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. Finally, TCG Advisory Services LLC acquired a new stake in ServiceNow in the fourth quarter valued at $2,234,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’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 directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The shares were 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 owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the 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 completion of the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 11,369 shares of company stock valued at $8,538,300 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Thursday, April 25th. Piper Sandler raised their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Stifel Nicolaus restated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. JMP Securities reiterated a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a research note on Tuesday, April 23rd. Finally, KeyCorp decreased their price objective on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $807.28.

ServiceNow Stock Performance

Shares of NOW stock traded up $20.93 during mid-day trading on Friday, hitting $716.65. The stock had a trading volume of 1,437,055 shares, compared to its average volume of 1,270,596. The firm has a market cap of $147.19 billion, a PE ratio of 76.65, a PEG ratio of 4.50 and a beta of 0.98. The company’s 50-day simple moving average is $753.36 and its 200-day simple moving average is $715.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. ServiceNow, Inc. has a fifty-two week low of $428.97 and a fifty-two week high of $815.32.

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.