Strategic Advocates LLC Decreases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Strategic Advocates LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 69.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 651 shares of the information technology services provider's stock after selling 1,513 shares during the quarter. Strategic Advocates LLC's holdings in ServiceNow were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NOW. AdvisorNet Financial Inc raised its stake in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Disciplined Equity Management Inc. purchased a new stake in shares of ServiceNow in the fourth quarter worth $35,000. Fortitude Family Office LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth $41,000. Oliver Lagore Vanvalin Investment Group raised its position in shares of ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider's stock worth $42,000 after purchasing an additional 14 shares during the last quarter. Finally, Friedenthal Financial bought a new position in ServiceNow in the 4th quarter worth about $44,000. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business'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 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the 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 $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 11,559 shares of company stock valued at $8,674,868 over the last three months. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NOW shares. Morgan Stanley lifted 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. Wells Fargo & Company lifted their target price on ServiceNow from $875.00 to $900.00 and gave the stock an "overweight" rating in a report on Tuesday, April 16th. Citigroup upped their price target on ServiceNow from $896.00 to $906.00 and gave the company a "buy" rating in a report on Thursday, April 18th. Royal Bank of Canada lifted their price objective on ServiceNow from $840.00 to $850.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group boosted their target price on ServiceNow from $800.00 to $910.00 and gave the stock a "buy" rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and an average price target of $808.73.

ServiceNow Stock Performance

ServiceNow stock traded up $6.85 during midday trading on Friday, hitting $729.79. The stock had a trading volume of 820,949 shares, compared to its average volume of 1,355,271. The firm's fifty day moving average is $748.63 and its two-hundred day moving average is $718.91. ServiceNow, Inc. has a 52-week low of $446.65 and a 52-week high of $815.32. The company has a market capitalization of $149.61 billion, a PE ratio of 78.05, a P/E/G ratio of 4.54 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.

About ServiceNow

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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