Metis Global Partners LLC Decreases Holdings in ServiceNow, Inc. (NYSE:NOW)

Metis Global Partners LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 3.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,756 shares of the information technology services provider’s stock after selling 359 shares during the period. Metis Global Partners LLC’s holdings in ServiceNow were worth $7,599,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in NOW. Vanguard Group Inc. boosted its stake in ServiceNow by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after acquiring an additional 122,577 shares during the last quarter. FMR LLC lifted its stake in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Jennison Associates LLC grew its holdings in ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after purchasing an additional 53,719 shares during the period. Northern Trust Corp raised its stake in shares of ServiceNow by 1.8% in the third quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock valued at $1,230,994,000 after buying an additional 39,259 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of ServiceNow by 3.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock valued at $1,230,114,000 after buying an additional 72,570 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of research reports. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Morgan Stanley upped their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research note on Tuesday, April 23rd. Citigroup increased their target price on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Oppenheimer lifted their price target on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $807.28.

Insider Activity

In related 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 completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on 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 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 filing with the SEC, which is available through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the company’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 disclosure for this sale can be found here. In the last three months, insiders have sold 11,369 shares of company stock worth $8,538,300. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

NYSE NOW traded up $20.93 during trading hours on Friday, reaching $716.65. 1,437,055 shares of the stock traded hands, compared to its average volume of 1,270,596. 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 stock has a 50 day simple moving average of $753.36 and a two-hundred day simple moving average of $715.16. ServiceNow, Inc. has a 1 year low of $428.97 and a 1 year high of $815.32. The company has a market cap of $147.19 billion, a price-to-earnings ratio of 76.65, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98.

ServiceNow 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.