ServiceNow, Inc. (NYSE:NOW) is United Asset Strategies Inc.’s 9th Largest Position

United Asset Strategies Inc. raised its position in ServiceNow, Inc. (NYSE:NOW) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,323 shares of the information technology services provider’s stock after purchasing an additional 110 shares during the period. ServiceNow makes up 2.2% of United Asset Strategies Inc.’s portfolio, making the stock its 9th biggest position. United Asset Strategies Inc.’s holdings in ServiceNow were worth $23,665,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after buying an additional 226,023 shares during the period. FMR LLC grew its position in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after acquiring an additional 502,845 shares during the last quarter. World Investment Advisors LLC increased its stake in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. Geode Capital Management LLC lifted its position in shares of ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NOW. TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Stifel Nicolaus increased their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Mizuho upped their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,093.34.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,731 shares of company stock worth $21,016,751. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.8 %

NOW stock opened at $1,124.64 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The stock has a market capitalization of $231.68 billion, a PE ratio of 174.91, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. The firm has a 50 day moving average of $1,077.07 and a 200 day moving average of $943.86.

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.