300 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Palisade Asset Management LLC

Palisade Asset Management LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, Holdings Channel.com reports. The fund acquired 300 shares of the information technology services provider’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of ServiceNow by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,149,686 shares of the information technology services provider’s stock worth $812,242,000 after acquiring an additional 39,146 shares in the last quarter. Northern Financial Advisors Inc raised its position in shares of ServiceNow by 1.1% during the fourth quarter. Northern Financial Advisors Inc now owns 2,165 shares of the information technology services provider’s stock valued at $1,530,000 after buying an additional 23 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in ServiceNow during the fourth quarter worth about $203,000. Apollon Wealth Management LLC grew its holdings in shares of ServiceNow by 107.4% during the 4th quarter. Apollon Wealth Management LLC now owns 3,187 shares of the information technology services provider’s stock worth $2,252,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Lincoln National Corp raised its stake in shares of ServiceNow by 4.2% in the fourth quarter. Lincoln National Corp now owns 3,373 shares of the information technology services provider’s stock valued at $2,383,000 after purchasing an additional 136 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NOW shares. Jefferies Financial Group raised their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a report on Tuesday. UBS Group decreased their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group increased 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. Finally, William Blair restated an “outperform” rating on shares of ServiceNow in a report on Tuesday. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $807.88.

ServiceNow Stock Down 1.8 %

Shares of NYSE NOW traded down $13.03 during mid-day trading on Tuesday, hitting $713.53. The company had a trading volume of 1,552,504 shares, compared to its average volume of 1,227,506. ServiceNow, Inc. has a one year low of $429.05 and a one year high of $815.32. 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. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $751.22 and a two-hundred day simple moving average of $717.54.

Insiders Place Their Bets

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 shares were sold at an average price of $753.08, for a total transaction 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 hyperlink. In related news, insider Paul John Smith sold 1,180 shares of ServiceNow 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 owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s 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 sale, the chief executive officer now 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 have sold 11,369 shares of company stock valued at $8,538,300 in the last 90 days. 0.25% of the stock is currently owned by 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.