FourThought Financial Partners LLC Acquires 58 Shares of ServiceNow, Inc. (NYSE:NOW)

FourThought Financial Partners LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,733 shares of the information technology services provider’s stock after buying an additional 58 shares during the period. FourThought Financial Partners LLC’s holdings in ServiceNow were worth $6,876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Stratos Wealth Advisors LLC grew its holdings in shares of ServiceNow by 41.8% in the third quarter. Stratos Wealth Advisors LLC now owns 577 shares of the information technology services provider’s stock valued at $323,000 after acquiring an additional 170 shares in the last quarter. Signet Financial Management LLC purchased a new stake in shares of ServiceNow during the 3rd quarter worth approximately $1,652,000. Miracle Mile Advisors LLC raised its holdings in shares of ServiceNow by 12.7% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,020 shares of the information technology services provider’s stock worth $1,129,000 after purchasing an additional 228 shares during the period. Sage Mountain Advisors LLC lifted its stake in ServiceNow by 39.9% in the third quarter. Sage Mountain Advisors LLC now owns 1,140 shares of the information technology services provider’s stock valued at $637,000 after purchasing an additional 325 shares during the last quarter. Finally, BNC Wealth Management LLC lifted its stake in ServiceNow by 2.2% in the third quarter. BNC Wealth Management LLC now owns 5,816 shares of the information technology services provider’s stock valued at $3,251,000 after purchasing an additional 124 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent research reports. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Thursday, April 25th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Oppenheimer boosted their price objective on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Finally, JMP Securities restated a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $807.28.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred 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 directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Paul John Smith sold 1,180 shares of the firm’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 value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now directly 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 ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of ServiceNow stock traded up $20.93 during trading on Friday, hitting $716.65. 1,437,055 shares of the stock traded hands, compared to its average volume of 1,270,596. The stock has a market cap of $147.19 billion, a price-to-earnings ratio of 76.65, a PEG ratio of 4.37 and a beta of 0.98. 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 52 week low of $428.97 and a 52 week high of $815.32. The firm’s fifty day moving average is $753.36 and its 200-day moving average is $713.00.

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.