Clearstead Trust LLC Acquires 304 Shares of ServiceNow, Inc. (NYSE:NOW)

Clearstead Trust LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,488 shares of the information technology services provider’s stock after buying an additional 304 shares during the period. ServiceNow accounts for about 0.9% of Clearstead Trust LLC’s investment portfolio, making the stock its 21st biggest holding. Clearstead Trust LLC’s holdings in ServiceNow were worth $3,171,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NOW. AdvisorNet Financial Inc increased 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 purchasing an additional 32 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of ServiceNow in the third quarter valued at approximately $35,000. Disciplined Equity Management Inc. acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new position in shares of ServiceNow in the third quarter valued at approximately $41,000. Finally, Fortitude Family Office LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $41,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $20.93 on Friday, reaching $716.65. 1,437,055 shares of the company’s stock were exchanged, compared to its average volume of 1,270,596. The company has a fifty day moving average of $753.36 and a 200-day moving average of $713.00. ServiceNow, Inc. has a twelve month low of $428.97 and a twelve month high of $815.32. The company has a market capitalization of $147.19 billion, a price-to-earnings ratio of 76.65, a PEG ratio of 4.37 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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NOW. BMO Capital Markets reduced their price target on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company upped their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Truist Financial upped their price target on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Mizuho increased their target price on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Thursday, April 25th. Three equities 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, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $807.28.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Paul John Smith sold 5,159 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 11,369 shares of company stock worth $8,538,300 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

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.