Merit Financial Group LLC Sells 1,074 Shares of ServiceNow, Inc. (NYSE:NOW)

Merit Financial Group LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 58.4% during the 4th quarter, HoldingsChannel reports. The firm owned 764 shares of the information technology services provider’s stock after selling 1,074 shares during the period. Merit Financial Group LLC’s holdings in ServiceNow were worth $540,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its stake in ServiceNow by 266.7% in the 4th 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 in the last quarter. Disciplined Equity Management Inc. bought a new stake in ServiceNow in the 4th quarter valued at approximately $35,000. Fortitude Family Office LLC bought a new stake in ServiceNow in the 4th quarter valued at approximately $41,000. Oliver Lagore Vanvalin Investment Group lifted its stake in 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 valued at $42,000 after acquiring an additional 14 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in ServiceNow in the 4th quarter valued at approximately $44,000. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NOW. BMO Capital Markets cut their target price on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Citigroup boosted their price target on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. The Goldman Sachs Group boosted their price target on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Oppenheimer boosted their price target on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Finally, Jefferies Financial Group boosted their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $807.88.

ServiceNow Stock Performance

NOW opened at $713.53 on Wednesday. The company has a market capitalization of $146.54 billion, a PE ratio of 76.31, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $429.05 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. The business has a fifty day simple moving average of $751.22 and a 200 day simple moving average of $717.54.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the 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 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 accessible through the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. 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. 0.25% of the stock is owned by corporate insiders.

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.