ServiceNow, Inc. (NYSE:NOW) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its position in ServiceNow, Inc. (NYSE:NOW) by 26.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 153,495 shares of the information technology services provider’s stock after selling 55,991 shares during the quarter. ServiceNow comprises about 1.9% of Manning & Napier Advisors LLC’s holdings, making the stock its 12th largest position. Manning & Napier Advisors LLC owned approximately 0.07% of ServiceNow worth $162,723,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of ServiceNow by 9.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,561 shares of the information technology services provider’s stock worth $13,027,000 after buying an additional 1,484 shares in the last quarter. Invst LLC purchased a new stake in shares of ServiceNow in the 2nd quarter worth about $282,000. Regal Investment Advisors LLC raised its stake in ServiceNow by 8.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 865 shares of the information technology services provider’s stock valued at $681,000 after purchasing an additional 66 shares during the last quarter. EP Wealth Advisors LLC raised its stake in ServiceNow by 9.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,206 shares of the information technology services provider’s stock valued at $1,736,000 after purchasing an additional 186 shares during the last quarter. Finally, Pathway Financial Advisers LLC raised its stake in ServiceNow by 6.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 639 shares of the information technology services provider’s stock valued at $499,000 after purchasing an additional 41 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE NOW traded down $22.76 during trading hours on Wednesday, hitting $1,147.63. The company had a trading volume of 294,348 shares, compared to its average volume of 1,265,461. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $1,082.77 and a 200-day simple moving average of $950.94. The firm has a market cap of $236.41 billion, a P/E ratio of 179.35, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99.

Insider Activity

In related news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,731 shares of company stock valued at $21,016,751. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Piper Sandler boosted their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Guggenheim reissued a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a research note on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective for the company. Finally, Citigroup upped their price objective on shares of ServiceNow from $1,071.00 to $1,432.00 and gave the company a “buy” rating in a research note on Monday. One investment 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 stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,116.14.

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.