Palisade Asset Management LLC Invests $212,000 in ServiceNow, Inc. (NYSE:NOW)

Palisade Asset Management LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 300 shares of the information technology services provider’s stock, valued at approximately $212,000.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC raised its position in ServiceNow by 69,354.6% in the fourth 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 in the last quarter. FMR LLC lifted its position in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares in the last quarter. 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 buying an additional 461,614 shares during the period. Cerity Partners LLC raised its holdings in ServiceNow by 1,073.7% during the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after purchasing an additional 371,648 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of ServiceNow during the third quarter worth approximately $135,075,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 dated 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 completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders have sold 11,369 shares of company stock worth $8,538,300 in the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $13.03 during trading on Tuesday, reaching $713.53. The company’s stock had a trading volume of 1,552,504 shares, compared to its average volume of 1,227,506. 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 firm has a market cap of $146.54 billion, a PE ratio of 76.31, a P/E/G ratio of 4.50 and a beta of 0.98. ServiceNow, Inc. has a fifty-two week low of $429.05 and a fifty-two week high of $815.32. The company has a 50-day moving average price of $751.22 and a two-hundred day moving average price of $717.54.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. BMO Capital Markets dropped their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Robert W. Baird boosted their target price on ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wells Fargo & Company boosted their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer boosted their price objective on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $807.88.

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.