Raymond James Financial Services Advisors Inc. Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Raymond James Financial Services Advisors Inc. lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 10.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,556 shares of the information technology services provider's stock after buying an additional 7,625 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in ServiceNow were worth $60,653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOW. Norges Bank purchased a new stake in shares of ServiceNow in the 4th quarter worth about $1,648,259,000. International Assets Investment Management LLC grew its position in ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider's stock valued at $580,486,000 after purchasing an additional 820,465 shares during the last quarter. FMR LLC grew its position 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 purchasing an additional 595,697 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in ServiceNow during the 1st quarter valued at about $403,034,000. Finally, Jennison Associates LLC grew its position in ServiceNow by 23.0% during the 3rd quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider's stock valued at $1,379,217,000 after purchasing an additional 461,614 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Down 1.1 %

Shares of NYSE:NOW traded down $7.88 on Wednesday, hitting $685.45. 1,332,971 shares of the company's stock were exchanged, compared to its average volume of 1,222,388. ServiceNow, Inc. has a 12 month low of $428.97 and a 12 month high of $815.32. The stock has a market capitalization of $140.78 billion, a price-to-earnings ratio of 73.31, a price-to-earnings-growth ratio of 4.57 and a beta of 0.97. The business's 50 day simple moving average is $755.91 and its two-hundred day simple moving average is $711.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06.

Wall Street Analyst Weigh In

NOW has been the topic of several recent analyst reports. JMP Securities reissued a "market outperform" rating and set a $825.00 price objective on shares of ServiceNow in a research report on Tuesday, April 23rd. Truist Financial increased their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the company a "hold" rating in a research report on Thursday, January 25th. Piper Sandler increased their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the company an "overweight" rating in a research report on Thursday, January 25th. Royal Bank of Canada upped their target price on shares of ServiceNow from $840.00 to $850.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group upped their target price on shares of ServiceNow from $800.00 to $910.00 and gave the company 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $807.28.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was 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 directly owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 sale, the chief executive officer now owns 17,177 shares of the company's stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,369 shares of company stock worth $8,538,300. 0.25% of the stock is currently owned by insiders.

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.

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