Amalgamated Bank Reduces Position in ServiceNow, Inc. (NYSE:NOW)

Amalgamated Bank trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,466 shares of the information technology services provider’s stock after selling 2,363 shares during the quarter. Amalgamated Bank’s holdings in ServiceNow were worth $36,360,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NOW. Summit Global Investments grew its holdings in shares of ServiceNow by 79.4% in the fourth quarter. Summit Global Investments now owns 671 shares of the information technology services provider’s stock worth $474,000 after purchasing an additional 297 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of ServiceNow by 5.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 357,629 shares of the information technology services provider’s stock worth $252,661,000 after acquiring an additional 19,595 shares during the period. Natixis Advisors L.P. raised its stake in shares of ServiceNow by 2.4% during the fourth quarter. Natixis Advisors L.P. now owns 210,921 shares of the information technology services provider’s stock valued at $149,014,000 after acquiring an additional 5,034 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in ServiceNow by 17.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 43,177 shares of the information technology services provider’s stock worth $30,504,000 after purchasing an additional 6,478 shares during the period. Finally, West Family Investments Inc. raised its stake in ServiceNow by 6.8% in the fourth quarter. West Family Investments Inc. now owns 585 shares of the information technology services provider’s stock worth $413,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the 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 completion of the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,369 shares of company stock valued at $8,538,300. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NOW stock traded up $10.11 during trading on Thursday, reaching $695.72. 1,049,041 shares of the company’s stock were exchanged, compared to its average volume of 1,220,352. The firm has a market cap of $142.89 billion, a PE ratio of 74.41, a P/E/G ratio of 4.35 and a beta of 0.98. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a 1-year low of $428.97 and a 1-year high of $815.32. The company’s fifty day moving average price is $755.91 and its 200-day moving average price is $711.97.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird increased their target price on shares of ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. UBS Group reduced their target price on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Oppenheimer increased their price target on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price 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.