Peak Financial Management Inc. Takes Position in ServiceNow, Inc. (NYSE:NOW)

Peak Financial Management Inc. purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 320 shares of the information technology services provider’s stock, valued at approximately $339,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in ServiceNow in the 3rd quarter worth about $30,000. DT Investment Partners LLC grew its stake in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares in the last quarter. Oakworth Capital Inc. increased its position in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares during the period. Dunhill Financial LLC raised its stake in shares of ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares in the last quarter. Finally, Vestor Capital LLC purchased a new stake in shares of ServiceNow in the third quarter valued at approximately $48,000. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on NOW shares. Needham & Company LLC raised their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Evercore ISI lifted their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Guggenheim reiterated a “sell” rating and set a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. Truist Financial boosted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Finally, Raymond James began coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,093.34.

ServiceNow Trading Down 0.8 %

Shares of NYSE:NOW opened at $1,124.64 on Monday. The business’s 50 day moving average price is $1,077.07 and its 200-day moving average price is $943.86. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The firm has a market capitalization of $231.68 billion, a price-to-earnings ratio of 174.91, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin Thomas Mcbride sold 100 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $102,397.00. Following the completion of the transaction, the insider now owns 3,457 shares in the company, valued at approximately $3,539,864.29. This trade represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,731 shares of company stock worth $21,016,751. Company insiders own 0.25% of the company’s stock.

ServiceNow Company 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.