ServiceNow, Inc. (NYSE:NOW) Shares Sold by Gradient Investments LLC

Gradient Investments LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 12.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,323 shares of the information technology services provider's stock after selling 3,162 shares during the quarter. Gradient Investments LLC's holdings in ServiceNow were worth $17,019,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Sandbox Financial Partners LLC lifted its position in shares of ServiceNow by 8.6% during the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider's stock worth $590,000 after purchasing an additional 66 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of ServiceNow by 19.8% in the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider's stock valued at $212,033,000 after purchasing an additional 49,631 shares during the last quarter. Raymond James & Associates grew its stake in ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider's stock worth $234,135,000 after buying an additional 18,442 shares during the last quarter. Dohj LLC acquired a new position in ServiceNow during the fourth quarter worth approximately $913,000. Finally, Sequoia Financial Advisors LLC lifted its stake in ServiceNow by 15.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider's stock valued at $18,175,000 after buying an additional 3,438 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NOW shares. Piper Sandler lifted their target price on shares of ServiceNow from $750.00 to $830.00 and gave the company an "overweight" rating in a report on Thursday, January 25th. StockNews.com cut shares of ServiceNow from a "buy" rating to a "hold" rating in a report on Friday, April 26th. The Goldman Sachs Group raised their price target on ServiceNow from $800.00 to $910.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Oppenheimer upped 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, Stifel Nicolaus reiterated a "buy" rating and issued a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $807.28.

ServiceNow Price Performance

ServiceNow stock traded up $20.93 during trading hours on Friday, hitting $716.65. The stock had a trading volume of 1,437,055 shares, compared to its average volume of 1,270,596. The stock has a market capitalization 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 debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. ServiceNow, Inc. has a 1-year low of $428.97 and a 1-year high of $815.32. The stock's fifty day moving average is $753.36 and its two-hundred day moving average is $713.00.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of ServiceNow 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 completion of the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred 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 approximately $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company's stock in a transaction that occurred 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 completion of 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. In the last three months, insiders have sold 11,369 shares of company stock valued at $8,538,300. Insiders own 0.25% of the company's stock.

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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