Vestmark Advisory Solutions Inc. Sells 1,514 Shares of ServiceNow, Inc. (NYSE:NOW)

Vestmark Advisory Solutions Inc. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 13.5% during the fourth quarter, Holdings Channel reports. The firm owned 9,731 shares of the information technology services provider’s stock after selling 1,514 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in ServiceNow were worth $6,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow during the 3rd quarter valued at about $28,000. AdvisorNet Financial Inc grew its position in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Princeton Global Asset Management LLC purchased a new stake in ServiceNow during the third quarter valued at approximately $35,000. Disciplined Equity Management Inc. bought a new position in ServiceNow in the fourth quarter worth approximately $35,000. Finally, OFI Invest Asset Management purchased a new position in shares of ServiceNow during the 3rd quarter worth $41,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NOW traded up $20.93 during mid-day trading 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 debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The company has a market cap of $147.19 billion, a PE ratio of 76.65, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $428.97 and a 52-week high of $815.32. The firm has a 50-day moving average of $753.36 and a two-hundred day moving average of $713.00.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on 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 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 stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction dated 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 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 90 days, insiders have sold 11,369 shares of company stock worth $8,538,300. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. Piper Sandler upped their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Oppenheimer raised their price objective on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Royal Bank of Canada boosted their price objective on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Barclays raised their target price on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $807.28.

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.