Charles Schwab Investment Management Inc. Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Charles Schwab Investment Management Inc. boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,149,686 shares of the information technology services provider’s stock after purchasing an additional 39,146 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ServiceNow were worth $812,242,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NOW. International Assets Investment Management LLC lifted its position in shares of ServiceNow by 69,354.6% in the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares during the period. FMR LLC raised its stake in ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Jennison Associates LLC boosted its position in ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after purchasing an additional 461,614 shares during the last quarter. Cerity Partners LLC grew its position in ServiceNow by 1,073.7% during the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after buying an additional 371,648 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of ServiceNow in the 3rd quarter worth $135,075,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other 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 value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,369 shares of company stock valued at $8,538,300. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $13.03 during mid-day trading on Tuesday, reaching $713.53. 1,552,504 shares of the stock traded hands, compared to its average volume of 1,227,506. The stock has a market capitalization of $146.54 billion, a PE ratio of 76.31, a PEG ratio of 4.50 and a beta of 0.98. The business has a 50-day moving average of $751.22 and a 200 day moving average of $717.54. ServiceNow, Inc. has a fifty-two week low of $429.05 and a fifty-two week high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOW. Oppenheimer lifted their target price on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday. Wells Fargo & Company lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Morgan Stanley raised their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, Robert W. Baird raised their target price on shares of ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $807.88.

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.