ServiceNow, Inc. (NYSE:NOW) Stock Position Decreased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 26.7% in the fourth quarter, Holdings Channel reports. The firm owned 153,495 shares of the information technology services provider’s stock after selling 55,991 shares during the period. ServiceNow accounts for 1.9% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 12th largest holding. Manning & Napier Advisors LLC’s holdings in ServiceNow were worth $162,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Orrstown Financial Services Inc. raised its stake in shares of ServiceNow by 1.8% during the 4th quarter. Orrstown Financial Services Inc. now owns 739 shares of the information technology services provider’s stock worth $783,000 after purchasing an additional 13 shares in the last quarter. Field & Main Bank raised its stake in shares of ServiceNow by 7.3% in the 4th quarter. Field & Main Bank now owns 1,918 shares of the information technology services provider’s stock valued at $2,033,000 after acquiring an additional 130 shares in the last quarter. Allen Capital Group LLC raised its stake in shares of ServiceNow by 24.1% in the 4th quarter. Allen Capital Group LLC now owns 674 shares of the information technology services provider’s stock valued at $715,000 after acquiring an additional 131 shares in the last quarter. Strategic Blueprint LLC raised its stake in shares of ServiceNow by 16.4% in the 4th quarter. Strategic Blueprint LLC now owns 313 shares of the information technology services provider’s stock valued at $332,000 after acquiring an additional 44 shares in the last quarter. Finally, Masso Torrence Wealth Management Inc. bought a new position in shares of ServiceNow in the 4th quarter valued at approximately $211,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Mizuho raised their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Robert W. Baird raised their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Cowen raised their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group raised their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, UBS Group lifted their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,116.14.

ServiceNow Stock Down 1.9 %

Shares of NYSE NOW traded down $22.76 during mid-day trading on Wednesday, reaching $1,147.63. 294,348 shares of the company’s stock were exchanged, compared to its average volume of 1,265,461. The business has a fifty day simple moving average of $1,082.77 and a 200 day simple moving average of $950.94. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a market capitalization of $236.41 billion, a price-to-earnings ratio of 179.35, 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.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the transaction, the director now directly owns 10,467 shares in the company, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is 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.