Avalon Trust Co Purchases 46 Shares of ServiceNow, Inc. (NYSE:NOW)

Avalon Trust Co boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 153.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76 shares of the information technology services provider’s stock after purchasing an additional 46 shares during the quarter. Avalon Trust Co’s holdings in ServiceNow were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in shares of ServiceNow by 69,354.6% in the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares during the last quarter. FMR LLC grew its position in shares of ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares during the period. Jennison Associates LLC increased its stake in shares of ServiceNow by 23.0% in the 3rd quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after acquiring an additional 461,614 shares during the last quarter. Cerity Partners LLC raised its position in shares of ServiceNow by 1,073.7% in the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after acquiring an additional 371,648 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in ServiceNow during the 3rd quarter worth approximately $135,075,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NOW stock traded up $20.93 during trading hours on Friday, hitting $716.65. 1,437,055 shares of the stock were exchanged, compared to its average volume of 1,270,596. 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 company has a 50-day simple moving average of $753.36 and a two-hundred day simple moving average of $715.16. ServiceNow, Inc. has a 12 month low of $428.97 and a 12 month high of $815.32. The firm has a market capitalization of $147.19 billion, a P/E ratio of 76.65, a P/E/G ratio of 4.50 and a beta of 0.98.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Barclays lifted their price objective on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Piper Sandler raised their target price on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Finally, Robert W. Baird upped their price target on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $807.28.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. 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 1,180 shares of the company’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 sale, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,369 shares of company stock valued at $8,538,300. 0.25% of the stock is owned by company 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.