First Horizon Advisors Inc. Lowers Position in ServiceNow, Inc. (NYSE:NOW)

First Horizon Advisors Inc. reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 7.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 490 shares of the information technology services provider’s stock after selling 40 shares during the quarter. First Horizon Advisors Inc.’s holdings in ServiceNow were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Argonautica Private Wealth Management Inc. raised its position in ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after buying an additional 13 shares during the last quarter. Wealth Management Partners LLC grew its stake in ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group grew its stake in ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares during the period. Trust Co. of Vermont grew its stake in ServiceNow by 8.6% in the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 15 shares during the period. Finally, Claro Advisors LLC grew its stake in ServiceNow by 3.6% in the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after purchasing an additional 15 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Paul John Smith sold 1,180 shares of ServiceNow 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 sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $753.08, for a total value 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. Insiders have sold a total of 11,369 shares of company stock worth $8,538,300 in the last ninety days. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

NOW opened at $716.65 on Monday. The stock’s 50 day simple moving average is $753.36 and its 200 day simple moving average is $715.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. ServiceNow, Inc. has a 1 year low of $428.97 and a 1 year high of $815.32. The firm has a market cap of $147.19 billion, a price-to-earnings ratio of 76.65, a PEG ratio of 4.50 and a beta of 0.98.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Piper Sandler upped their price objective on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Thursday, April 25th. Jefferies Financial Group increased their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Mizuho increased their price target on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, BMO Capital Markets cut their price target on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $807.28.

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.