Broadleaf Partners LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 0.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,655 shares of the information technology services provider's stock after selling 34 shares during the quarter. ServiceNow comprises about 2.6% of Broadleaf Partners LLC's holdings, making the stock its 16th biggest holding. Broadleaf Partners LLC's holdings in ServiceNow were worth $6,289,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Great West Life Assurance Co. Can acquired a new stake in shares of ServiceNow during the third quarter worth about $68,701,000. Zions Bancorporation N.A. lifted its position in shares of ServiceNow by 9.3% during the second quarter. Zions Bancorporation N.A. now owns 956 shares of the information technology services provider's stock worth $455,000 after purchasing an additional 81 shares in the last quarter. Raymond James & Associates lifted its position in shares of ServiceNow by 1.6% during the third quarter. Raymond James & Associates now owns 214,214 shares of the information technology services provider's stock worth $80,889,000 after purchasing an additional 3,338 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of ServiceNow by 5.7% during the third quarter. Raymond James Trust N.A. now owns 3,612 shares of the information technology services provider's stock worth $1,364,000 after purchasing an additional 196 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of ServiceNow during the third quarter worth about $4,871,000. Institutional investors and hedge funds own 86.31% of the company's stock.
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Insider Buying and Selling at ServiceNow
In other ServiceNow news, insider Jacqueline P. Canney sold 1,083 shares of the firm's stock in a transaction on Friday, January 27th. The stock was sold at an average price of $461.03, for a total value of $499,295.49. Following the completion of the sale, the insider now owns 267 shares of the company's stock, valued at $123,095.01. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 1,083 shares of the firm's stock in a transaction on Friday, January 27th. The stock was sold at an average price of $461.03, for a total value of $499,295.49. Following the completion of the sale, the insider now owns 267 shares of the company's stock, valued at $123,095.01. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 2,301 shares of the firm's stock in a transaction on Monday, January 30th. The shares were sold at an average price of $447.22, for a total value of $1,029,053.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,960 shares of company stock valued at $4,893,041. 0.28% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on NOW. Sanford C. Bernstein cut their target price on shares of ServiceNow from $641.00 to $586.00 and set an "outperform" rating on the stock in a research note on Thursday, January 26th. Robert W. Baird cut their target price on shares of ServiceNow from $500.00 to $475.00 in a research note on Wednesday, December 21st. Wells Fargo & Company upped their target price on shares of ServiceNow from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Thursday, January 26th. Morgan Stanley upped their target price on shares of ServiceNow from $520.00 to $612.00 and gave the stock an "overweight" rating in a research note on Monday, December 19th. Finally, Mizuho upped their target price on shares of ServiceNow from $480.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, October 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $517.47.
ServiceNow Stock Performance
Shares of NYSE NOW traded up $2.32 during mid-day trading on Wednesday, hitting $457.45. 698,488 shares of the company were exchanged, compared to its average volume of 2,023,961. The company has a quick ratio of 1.24, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $405.30 and a 200-day simple moving average of $416.59. ServiceNow, Inc. has a 1-year low of $337.00 and a 1-year high of $621.41. The firm has a market cap of $92.40 billion, a price-to-earnings ratio of 284.46, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98.
ServiceNow Company 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. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.
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