Norden Group LLC Sells 1,018 Shares of ServiceNow, Inc. (NYSE:NOW)

Norden Group LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 15.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,734 shares of the information technology services provider’s stock after selling 1,018 shares during the period. ServiceNow accounts for about 0.7% of Norden Group LLC’s investment portfolio, making the stock its 11th largest position. Norden Group LLC’s holdings in ServiceNow were worth $4,051,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after acquiring an additional 820,465 shares during the period. FMR LLC grew its holdings in ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Jennison Associates LLC grew its holdings in ServiceNow by 23.0% in the 3rd quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after buying an additional 461,614 shares during the last quarter. Cerity Partners LLC increased its position in ServiceNow by 1,073.7% in the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after buying an additional 371,648 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of ServiceNow in the third quarter worth $135,075,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Down 3.3 %

Shares of NOW stock traded down $23.94 on Tuesday, reaching $697.22. 1,110,224 shares of the stock were exchanged, compared to its average volume of 1,209,483. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. ServiceNow, Inc. has a one year low of $428.97 and a one year high of $815.32. The stock has a market cap of $143.20 billion, a PE ratio of 75.30, a P/E/G ratio of 4.83 and a beta of 0.97. The stock has a 50 day moving average price of $758.35 and a 200 day moving average price of $711.15.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,369 shares of company stock worth $8,538,300. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOW. UBS Group reduced their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, April 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 price target on shares of ServiceNow in a report on Tuesday, April 23rd. Stifel Nicolaus reissued a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a report on Wednesday, March 20th. KeyCorp cut their target price on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $807.28.

About ServiceNow

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.