Choreo LLC Increases Holdings in ServiceNow, Inc. (NYSE:NOW)

Choreo LLC grew its holdings in ServiceNow, Inc. (NYSE:NOWFree Report) by 2.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 833 shares of the information technology services provider’s stock after buying an additional 22 shares during the quarter. Choreo LLC’s holdings in ServiceNow were worth $589,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NOW. Vanguard Group Inc. lifted its position in ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after buying an additional 122,577 shares during the period. FMR LLC boosted 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 purchasing an additional 595,697 shares during the last quarter. Jennison Associates LLC increased its holdings in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after buying an additional 53,719 shares in the last quarter. Northern Trust Corp raised its position in ServiceNow by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock worth $1,230,994,000 after buying an additional 39,259 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in ServiceNow by 3.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock valued at $1,230,114,000 after acquiring an additional 72,570 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

ServiceNow stock opened at $695.72 on Friday. The stock has a market cap of $142.89 billion, a price-to-earnings ratio of 74.41, a price-to-earnings-growth ratio of 4.31 and a beta of 0.98. The firm has a 50-day moving average of $754.44 and a two-hundred day moving average of $711.86. ServiceNow, Inc. has a 1 year low of $428.97 and a 1 year high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction 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 directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. 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 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NOW shares. Needham & Company LLC restated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Thursday, April 25th. Royal Bank of Canada raised their target price on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group upped their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Barclays raised their target price on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Finally, Truist Financial raised their price objective on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Three 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $807.28.

View Our Latest Analysis on ServiceNow

ServiceNow Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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