SouthState Corp Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

SouthState Corp grew its stake in ServiceNow, Inc. (NYSE:NOW) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 19,443 shares of the information technology services provider’s stock after acquiring an additional 483 shares during the period. ServiceNow comprises 1.2% of SouthState Corp’s investment portfolio, making the stock its 25th biggest holding. SouthState Corp’s holdings in ServiceNow were worth $13,736,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after acquiring an additional 122,577 shares during the period. FMR LLC lifted its position in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the period. Jennison Associates LLC raised its stake in ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after acquiring an additional 53,719 shares in the last quarter. Northern Trust Corp increased its position in ServiceNow by 1.8% in the third quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock worth $1,230,994,000 after purchasing an additional 39,259 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of ServiceNow by 3.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock valued at $1,230,114,000 after purchasing an additional 72,570 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 1.5 %

ServiceNow stock traded up $10.11 during trading on Thursday, hitting $695.72. 1,048,913 shares of the company were exchanged, compared to its average volume of 1,220,354. The company has a market capitalization of $142.89 billion, a P/E ratio of 74.41, a PEG ratio of 4.35 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $755.91 and its 200 day moving average is $711.97. ServiceNow, Inc. has a 52 week low of $428.97 and a 52 week high of $815.32.

Insider Activity

In related news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 11,369 shares of company stock valued at $8,538,300 in the last 90 days. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Robert W. Baird upped their target price on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Wells Fargo & Company lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Thursday, April 25th. Morgan Stanley upped their price objective on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Royal Bank of Canada boosted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $807.28.

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.