Advisory Services Network LLC Decreases Holdings in ServiceNow, Inc. (NYSE:NOW)

Advisory Services Network LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,661 shares of the information technology services provider’s stock after selling 56 shares during the period. Advisory Services Network LLC’s holdings in ServiceNow were worth $7,532,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. AdvisorNet Financial Inc grew its position in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares during the last quarter. Disciplined Equity Management Inc. bought a new position in ServiceNow during the 4th quarter worth approximately $35,000. Sachetta LLC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $35,000. Fortitude Family Office LLC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $41,000. Finally, Oliver Lagore Vanvalin Investment Group grew its position in shares of ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,263,606.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 917 shares of company stock valued at $690,880. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW traded down $19.64 during trading hours on Friday, hitting $738.51. The stock had a trading volume of 1,357,098 shares, compared to its average volume of 1,130,991. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow, Inc. has a 12 month low of $517.80 and a 12 month high of $815.32. The firm has a market capitalization of $151.39 billion, a PE ratio of 78.99, a PEG ratio of 4.75 and a beta of 0.98. The stock has a fifty day moving average price of $747.11 and a 200 day moving average price of $731.44.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. Analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NOW shares. Wolfe Research reiterated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a research report on Friday, May 10th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Citigroup lifted their price objective on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Stifel Nicolaus restated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group raised 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 research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $808.73.

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.