Van ECK Associates Corp Has $12.09 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Van ECK Associates Corp lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,108 shares of the information technology services provider’s stock after selling 1,512 shares during the quarter. Van ECK Associates Corp’s holdings in ServiceNow were worth $12,087,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position 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 valued at $580,486,000 after buying an additional 820,465 shares during the last quarter. FMR LLC increased its holdings in shares of ServiceNow by 17.3% in the third 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 raised its position in shares of ServiceNow by 23.0% in the third 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 period. Cerity Partners LLC lifted its stake in shares of ServiceNow by 1,073.7% during the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after buying an additional 371,648 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in ServiceNow in the 3rd quarter valued at about $135,075,000. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the company’s 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 sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 value of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on 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 transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 11,369 shares of company stock worth $8,538,300 over the last three months. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $695.72 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. ServiceNow, Inc. has a 52-week low of $428.97 and a 52-week high of $815.32. The company has a market capitalization of $142.89 billion, a P/E ratio of 74.41, a PEG ratio of 4.31 and a beta of 0.98. The company has a fifty day moving average price of $754.44 and a 200-day moving average price of $711.86.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NOW. Robert W. Baird upped their target price on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. JMP Securities reissued a “market outperform” rating and set a $825.00 target price on shares of ServiceNow in a report on Tuesday, April 23rd. Jefferies Financial Group boosted their target price 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. Finally, Morgan Stanley raised their price target on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $807.28.

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.