ServiceNow, Inc. (NYSE:NOW) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,864 shares of the information technology services provider’s stock after selling 6,003 shares during the quarter. ServiceNow makes up 0.6% of Picton Mahoney Asset Management’s portfolio, making the stock its 19th biggest position. Picton Mahoney Asset Management’s holdings in ServiceNow were worth $21,098,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in shares of ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after buying an additional 820,465 shares during the last quarter. FMR LLC raised its stake in shares of ServiceNow by 17.3% in 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 purchasing an additional 595,697 shares in the last quarter. Jennison Associates LLC lifted its position in shares of ServiceNow by 23.0% during 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 stake in ServiceNow by 1,073.7% in the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after purchasing an additional 371,648 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in ServiceNow in the third quarter valued at about $135,075,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 1.8 %

Shares of NOW traded down $13.03 on Tuesday, reaching $713.53. 1,552,504 shares of the company’s stock were exchanged, compared to its average volume of 1,227,506. ServiceNow, Inc. has a 12 month low of $429.05 and a 12 month high of $815.32. The stock has a market capitalization of $146.54 billion, a P/E ratio of 76.31, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $751.22 and a two-hundred day moving average price of $717.54.

Analysts Set New Price Targets

A number of research firms recently weighed in on NOW. Royal Bank of Canada increased their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Mizuho increased their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. JMP Securities reiterated a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a report on Tuesday. BMO Capital Markets decreased their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $807.88.

Insider Activity

In other news, 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 completion of the transaction, the chief executive officer now directly 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 available through this link. In other 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 transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Insiders have sold a total of 11,369 shares of company stock valued at $8,538,300 in the last 90 days. 0.25% of the stock is owned by company insiders.

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.