Sheets Smith Wealth Management Acquires 381 Shares of ServiceNow, Inc. (NYSE:NOW)

Sheets Smith Wealth Management increased its stake in ServiceNow, Inc. (NYSE:NOW) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,343 shares of the information technology services provider’s stock after purchasing an additional 381 shares during the period. Sheets Smith Wealth Management’s holdings in ServiceNow were worth $3,775,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NOW. Clearstead Trust LLC lifted its stake in ServiceNow by 7.3% during the fourth quarter. Clearstead Trust LLC now owns 4,488 shares of the information technology services provider’s stock worth $3,171,000 after purchasing an additional 304 shares during the last quarter. Connecticut Wealth Management LLC bought a new stake in ServiceNow in the 4th quarter worth approximately $1,208,000. Avalon Trust Co boosted its stake in ServiceNow by 153.3% in the fourth quarter. Avalon Trust Co now owns 76 shares of the information technology services provider’s stock worth $54,000 after buying an additional 46 shares in the last quarter. FourThought Financial Partners LLC lifted its holdings in shares of ServiceNow by 0.6% in the 4th quarter. FourThought Financial Partners LLC now owns 9,733 shares of the information technology services provider’s stock worth $6,876,000 after acquiring an additional 58 shares during the last quarter. Finally, TCG Advisory Services LLC purchased a new stake in shares of ServiceNow in the 4th quarter valued at $2,234,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the 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 owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. 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 90 days. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NOW shares. Oppenheimer upped their target price on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. The Goldman Sachs Group upped their target price on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Piper Sandler upped their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Wells Fargo & Company boosted their price target on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, KeyCorp reduced their price objective on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $807.28.

ServiceNow Stock Performance

NYSE NOW traded up $20.93 during trading hours on Friday, hitting $716.65. 1,437,055 shares of the company’s stock traded hands, compared to its average volume of 1,270,596. ServiceNow, Inc. has a 52 week low of $428.97 and a 52 week 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. 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 business’s fifty day moving average price is $753.36 and its two-hundred day moving average price is $715.16.

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.