Valeo Financial Advisors LLC Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

Valeo Financial Advisors LLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,005 shares of the information technology services provider’s stock after selling 48 shares during the period. Valeo Financial Advisors LLC’s holdings in ServiceNow were worth $1,793,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC purchased a new position in ServiceNow in the first quarter worth approximately $25,000. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC boosted its position in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the period. Ridgewood Investments LLC purchased a new position in shares of ServiceNow during the second quarter worth $32,000. Finally, TFC Financial Management Inc. boosted its position in shares of ServiceNow by 466.7% during the first quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after buying an additional 42 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Down 0.6 %

ServiceNow stock opened at $938.59 on Friday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $192.41 billion, a P/E ratio of 100.38, a PEG ratio of 5.63 and a beta of 0.99. The stock has a 50-day simple moving average of $861.16 and a 200-day simple moving average of $786.23.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 EPS. Equities research analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last quarter. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NOW. Guggenheim restated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft raised their price target on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen increased their price objective on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus increased their price objective on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $880.04.

ServiceNow Company 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.