ServiceNow, Inc. (NYSE:NOW) Position Reduced by Merit Financial Group LLC

Merit Financial Group LLC cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 58.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 764 shares of the information technology services provider’s stock after selling 1,074 shares during the quarter. Merit Financial Group LLC’s holdings in ServiceNow were worth $540,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NOW. AdvisorNet Financial Inc increased its holdings in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at about $35,000. Disciplined Equity Management Inc. acquired a new position in shares of ServiceNow in the 4th quarter valued at about $35,000. OFI Invest Asset Management acquired a new position in shares of ServiceNow in the 3rd quarter valued at about $41,000. Finally, Fortitude Family Office LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of research reports. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Morgan Stanley increased their price objective on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. UBS Group dropped their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a report on Tuesday. Finally, 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 report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $807.88.

Insider Activity

In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,369 shares of company stock valued at $8,538,300. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Down 1.8 %

NOW opened at $713.53 on Wednesday. ServiceNow, Inc. has a 1-year low of $429.05 and a 1-year high of $815.32. 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 stock has a market capitalization of $146.54 billion, a price-to-earnings ratio of 76.31, a P/E/G ratio of 4.50 and a beta of 0.98. The business has a 50 day moving average of $751.22 and a 200-day moving average of $717.54.

ServiceNow 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.