Masso Torrence Wealth Management Inc. Purchases New Holdings in ServiceNow, Inc. (NYSE:NOW)

Masso Torrence Wealth Management Inc. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 199 shares of the information technology services provider’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in ServiceNow during the third quarter worth about $30,000. DT Investment Partners LLC boosted its holdings in shares of 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. grew its holdings 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 purchasing an additional 14 shares during the last quarter. Dunhill Financial LLC increased its position in ServiceNow by 70.0% in the 3rd 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, Friedenthal Financial acquired a new position in shares of ServiceNow during the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.0 %

Shares of NYSE NOW opened at $1,158.77 on Wednesday. The business has a 50-day moving average of $1,082.77 and a 200-day moving average of $950.94. The firm has a market capitalization of $238.71 billion, a price-to-earnings ratio of 182.43, a PEG ratio of 5.11 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 455 shares of the 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 transaction of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kevin Thomas Mcbride sold 100 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the sale, the insider now owns 3,457 shares of the company’s stock, valued at $3,539,864.29. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock worth $21,016,751 in the last quarter. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group increased their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group upped their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. The Goldman Sachs Group lifted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Piper Sandler upped their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, StockNews.com raised ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. One research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,116.14.

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.