SouthState Corp Buys 483 Shares of ServiceNow, Inc. (NYSE:NOW)

SouthState Corp boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,443 shares of the information technology services provider’s stock after acquiring an additional 483 shares during the period. ServiceNow accounts for 1.2% of SouthState Corp’s holdings, making the stock its 25th biggest position. SouthState Corp’s holdings in ServiceNow were worth $13,736,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Argonautica Private Wealth Management Inc. grew its holdings in shares of ServiceNow by 1.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after purchasing an additional 13 shares in the last quarter. Wealth Management Partners LLC boosted its holdings in ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group raised its position 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 worth $42,000 after acquiring an additional 14 shares in the last quarter. Trust Co. of Vermont increased its stake in ServiceNow by 8.6% in the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after purchasing an additional 15 shares in the last quarter. Finally, Claro Advisors LLC lifted its holdings in ServiceNow by 3.6% in the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW traded up $10.11 on Thursday, hitting $695.72. 1,048,913 shares of the stock were exchanged, compared to its average volume of 1,220,354. 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’s fifty day moving average is $755.91 and its 200 day moving average is $711.97. ServiceNow, Inc. has a 52 week low of $428.97 and a 52 week high of $815.32. The company has a market capitalization of $142.89 billion, a PE ratio of 74.41, a P/E/G ratio of 4.35 and a beta of 0.98.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NOW shares. Piper Sandler raised their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Royal Bank of Canada lifted their price target on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Jefferies Financial Group boosted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group lifted their price target on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $807.28.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction on 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 owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a filing with the SEC, 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 that occurred on Tuesday, February 20th. The shares were 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 $12,935,655.16. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction, 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. Over the last quarter, insiders have sold 11,369 shares of company stock valued at $8,538,300. 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.