ServiceNow, Inc. (NYSE:NOW) Stake Lowered by Keystone Investors PTE Ltd.

Keystone Investors PTE Ltd. reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,413 shares of the information technology services provider's stock after selling 1,546 shares during the period. ServiceNow accounts for about 4.3% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 9th biggest position. Keystone Investors PTE Ltd.'s holdings in ServiceNow were worth $51,159,000 at the end of the most recent reporting period.

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Other hedge funds also recently made changes to their positions in the company. Choate Investment Advisors purchased a new stake in ServiceNow during the third quarter valued at approximately $302,000. Arete Wealth Advisors LLC raised its position in ServiceNow by 14.0% during the third quarter. Arete Wealth Advisors LLC now owns 921 shares of the information technology services provider's stock valued at $515,000 after purchasing an additional 113 shares during the period. Capital Insight Partners LLC raised its position in ServiceNow by 10.7% during the third quarter. Capital Insight Partners LLC now owns 869 shares of the information technology services provider's stock valued at $486,000 after purchasing an additional 84 shares during the period. OPTIMAS CAPITAL Ltd purchased a new stake in ServiceNow during the third quarter valued at approximately $2,795,000. Finally, Fifth Third Bancorp raised its position in ServiceNow by 11.5% during the third quarter. Fifth Third Bancorp now owns 66,996 shares of the information technology services provider's stock valued at $37,448,000 after purchasing an additional 6,885 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOW. Wells Fargo & Company upped their price objective on ServiceNow from $875.00 to $900.00 and gave the company an "overweight" rating in a research report on Tuesday, April 16th. StockNews.com cut ServiceNow from a "buy" rating to a "hold" rating in a research note on Friday, April 26th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Tuesday, May 7th. Robert W. Baird upped their target price on ServiceNow from $870.00 to $885.00 and gave the company an "outperform" rating in a research note on Tuesday, May 7th. Finally, Jefferies Financial Group upped their target price on ServiceNow from $885.00 to $900.00 and gave the company a "buy" rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $808.73.

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Read Our Latest Research Report on NOW

ServiceNow Stock Up 4.7 %

Shares of NOW traded up $33.80 during midday trading on Wednesday, hitting $755.42. 748,927 shares of the company's stock traded hands, compared to its average volume of 1,209,816. ServiceNow, Inc. has a 1 year low of $461.77 and a 1 year high of $815.32. The firm's fifty day moving average is $747.34 and its 200-day moving average is $723.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $154.86 billion, a price-to-earnings ratio of 79.95, a price-to-earnings-growth ratio of 4.59 and a beta of 0.98.

Insider Activity

• Will ServiceNow continue its streak of double-digit EPS growth?

In other news, insider Paul John Smith sold 125 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at approximately $2,263,606.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the 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 sale, the chief executive officer now directly owns 17,177 shares of the company's stock, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 125 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,504 shares of company stock worth $7,860,589. Insiders own 0.25% of the company's stock.

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.

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