Sovereign Financial Group Inc. Acquires Shares of 360 ServiceNow, Inc. (NYSE:NOW)

Sovereign Financial Group Inc. bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, Holdings Channel reports. The institutional investor bought 360 shares of the information technology services provider’s stock, valued at approximately $254,000.

A number of other large investors also recently made changes to their positions in the stock. AdvisorNet Financial Inc lifted its stake in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Disciplined Equity Management Inc. bought a new position in ServiceNow during the 4th quarter worth approximately $35,000. Fortitude Family Office LLC acquired a new position in ServiceNow during the fourth quarter valued at approximately $41,000. Oliver Lagore Vanvalin Investment Group increased its stake in ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in ServiceNow in the fourth quarter worth $44,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $7.70 during midday trading on Wednesday, hitting $721.03. 1,008,840 shares of the company’s stock were exchanged, compared to its average volume of 1,225,051. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $148.09 billion, a PE ratio of 76.93, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $435.07 and a 12 month high of $815.32. The company’s 50 day moving average price is $751.22 and its 200 day moving average price is $717.54.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction dated Tuesday, February 13th. The shares were 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 of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were 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 $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the business’s 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 sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 11,369 shares of company stock valued at $8,538,300 in the last quarter. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent analyst reports. KeyCorp lowered their price objective on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Truist Financial lifted their price objective on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Royal Bank of Canada increased their target price on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley lifted their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, UBS Group dropped their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $807.88.

ServiceNow 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.