Peak Financial Management Inc. Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Peak Financial Management Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, Holdings Channel reports. The fund purchased 320 shares of the information technology services provider’s stock, valued at approximately $339,000.

Other large investors have also recently made changes to their positions in the company. World Investment Advisors LLC boosted its position in shares of ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the period. International Assets Investment Management LLC boosted its holdings in ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the period. Bank of Montreal Can grew its position in ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after acquiring an additional 935,848 shares in the last quarter. Wellington Management Group LLP increased its stake in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the period. Finally, FMR LLC lifted its position in shares of ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NOW shares. Citigroup raised their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price for the company. Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Finally, Guggenheim reaffirmed a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. One 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,093.34.

ServiceNow Stock Down 0.8 %

Shares of ServiceNow stock opened at $1,124.64 on Monday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company has a market cap of $231.68 billion, a P/E ratio of 174.91, a PEG ratio of 5.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a fifty day moving average of $1,077.07 and a two-hundred day moving average of $943.86.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value 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. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock valued at $21,016,751 over the last ninety days. Corporate 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.