Miracle Mile Advisors LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,643 shares of the information technology services provider’s stock, valued at approximately $638,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. purchased a new position in ServiceNow in the 4th quarter valued at $29,000. High Net Worth Advisory Group LLC purchased a new position in ServiceNow in the 1st quarter valued at $29,000. Romano Brothers AND Company purchased a new position in ServiceNow in the 4th quarter valued at $33,000. Vigilant Capital Management LLC grew its position in ServiceNow by 300.0% in the 3rd quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 72 shares during the last quarter. Finally, Motco purchased a new stake in shares of ServiceNow during the 3rd quarter worth $37,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.
ServiceNow Trading Up 0.3 %
Shares of NOW stock opened at $439.63 on Friday. ServiceNow, Inc. has a twelve month low of $337.00 and a twelve month high of $601.62. The firm has a 50-day moving average price of $444.33 and a 200 day moving average price of $412.07. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $89.24 billion, a price-to-earnings ratio of 274.77, a PEG ratio of 5.72 and a beta of 1.03.
Insider Activity
In other news, insider Jacqueline P. Canney sold 1,083 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $461.03, for a total transaction of $499,295.49. Following the completion of the transaction, the insider now owns 267 shares of the company’s stock, valued at approximately $123,095.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Jacqueline P. Canney sold 1,083 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $461.03, for a total transaction of $499,295.49. Following the completion of the sale, the insider now owns 267 shares in the company, valued at approximately $123,095.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 2,613 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $447.18, for a total value of $1,168,481.34. Following the sale, the insider now owns 15,752 shares of the company’s stock, valued at approximately $7,043,979.36. The disclosure for this sale can be found here. Insiders sold a total of 65,629 shares of company stock valued at $29,974,024 in the last 90 days. 0.28% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on NOW shares. JPMorgan Chase & Co. boosted their target price on shares of ServiceNow from $485.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. Piper Sandler boosted their target price on shares of ServiceNow from $500.00 to $525.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. StockNews.com started coverage on shares of ServiceNow in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Cowen boosted their target price on shares of ServiceNow from $520.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. Finally, Wells Fargo & Company boosted their target price on shares of ServiceNow from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. One research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $519.45.
ServiceNow Company Profile
ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.
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