Southern Style Financial Inc. Acquires New Shares in ServiceNow, Inc. (NYSE:NOW)

Southern Style Financial Inc. acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 874 shares of the information technology services provider’s stock, valued at approximately $926,000. ServiceNow makes up approximately 0.7% of Southern Style Financial Inc.’s investment portfolio, making the stock its 15th largest position.

Several other institutional investors also recently bought and sold shares of NOW. Polymer Capital Management HK LTD raised its holdings in ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after acquiring an additional 981 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $48,802,000. Avidian Wealth Enterprises LLC increased its stake in shares of ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC lifted its position in shares of ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the last quarter. Finally, Cardano Risk Management B.V. bought a new stake in ServiceNow during the 4th quarter valued at approximately $105,090,000. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on NOW shares. Piper Sandler upped their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Canaccord Genuity Group increased their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, December 20th. Scotiabank began coverage on shares of ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective on the stock. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets boosted their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. One equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,105.79.

ServiceNow Price Performance

Shares of NOW stock opened at $1,171.00 on Wednesday. The stock’s fifty day moving average is $1,079.79 and its 200-day moving average is $948.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The stock has a market capitalization of $241.23 billion, a PE ratio of 182.11, a PEG ratio of 5.11 and a beta of 0.99.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock valued at $21,016,751 in the last 90 days. 0.25% of the stock is currently owned by insiders.

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.