Allen Capital Group LLC Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Allen Capital Group LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 24.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 674 shares of the information technology services provider’s stock after buying an additional 131 shares during the quarter. Allen Capital Group LLC’s holdings in ServiceNow were worth $715,000 as of its most recent filing with the SEC.

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

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NOW. Citigroup raised their target price on shares of ServiceNow from $1,071.00 to $1,432.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC lifted their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Cantor Fitzgerald began coverage on ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price on the stock. Piper Sandler raised their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $1,116.14.

ServiceNow Stock Performance

NYSE:NOW opened at $1,146.61 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $1,082.77 and its 200 day simple moving average is $950.94. The stock has a market cap of $236.20 billion, a P/E ratio of 179.29, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

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.