Mercer Global Advisors Inc. ADV Purchases 583 Shares of ServiceNow, Inc. (NYSE:NOW)

Posted by on May 19th, 2023

Mercer Global Advisors Inc. ADV increased its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 24.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,007 shares of the information technology services provider’s stock after acquiring an additional 583 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in ServiceNow were worth $1,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Gryphon Financial Partners LLC lifted its stake in ServiceNow by 1.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,673 shares of the information technology services provider’s stock valued at $650,000 after buying an additional 26 shares in the last quarter. Donaldson Capital Management LLC lifted its stake in ServiceNow by 2.6% in the fourth quarter. Donaldson Capital Management LLC now owns 2,290 shares of the information technology services provider’s stock valued at $889,000 after buying an additional 59 shares in the last quarter. West Family Investments Inc. bought a new position in ServiceNow in the fourth quarter valued at approximately $239,000. Raymond James & Associates lifted its stake in ServiceNow by 9.5% in the fourth quarter. Raymond James & Associates now owns 234,601 shares of the information technology services provider’s stock valued at $91,089,000 after buying an additional 20,387 shares in the last quarter. Finally, FORA Capital LLC bought a new position in ServiceNow in the fourth quarter valued at approximately $652,000. Institutional investors own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NOW shares. Royal Bank of Canada lifted their price target on shares of ServiceNow from $525.00 to $540.00 in a research note on Wednesday. Cowen lifted their price objective on shares of ServiceNow from $520.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, January 26th. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, January 26th. Stifel Nicolaus lifted their price objective on shares of ServiceNow from $495.00 to $525.00 in a report on Thursday, April 27th. Finally, Citigroup lifted their price objective on shares of ServiceNow from $506.00 to $562.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Two analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $527.70.

ServiceNow Trading Up 3.5 %

NOW opened at $510.17 on Friday. ServiceNow, Inc. has a twelve month low of $337.00 and a twelve month high of $521.58. The company has a 50-day simple moving average of $453.70 and a 200 day simple moving average of $429.12. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $103.94 billion, a price-to-earnings ratio of 260.29, a P/E/G ratio of 6.25 and a beta of 1.04.

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 7,796 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $456.31, for a total transaction of $3,557,392.76. Following the completion of the sale, the general counsel now owns 4,047 shares of the company’s stock, valued at $1,846,686.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Anita M. Sands sold 1,315 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $459.75, for a total value of $604,571.25. Following the completion of the transaction, the director now owns 14,443 shares of the company’s stock, valued at $6,640,169.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 7,796 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $456.31, for a total transaction of $3,557,392.76. Following the completion of the transaction, the general counsel now directly owns 4,047 shares of the company’s stock, valued at approximately $1,846,686.57. The disclosure for this sale can be found here. Insiders sold 18,095 shares of company stock valued at $8,131,910 over the last quarter. 0.24% of the stock is owned by company insiders.

ServiceNow Profile

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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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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