E Fund Management Hong Kong Co. Ltd. Sells 26 Shares of ServiceNow, Inc. (NYSE:NOW)

E Fund Management Hong Kong Co. Ltd. cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 234 shares of the information technology services provider’s stock after selling 26 shares during the period. ServiceNow comprises about 0.2% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its 28th largest position. E Fund Management Hong Kong Co. Ltd.’s holdings in ServiceNow were worth $248,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new stake in ServiceNow during the third quarter valued at approximately $30,000. DT Investment Partners LLC lifted its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. Oakworth Capital Inc. boosted its stake in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares in the last quarter. Dunhill Financial LLC grew its position in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares during the period. Finally, Vestor Capital LLC acquired a new position in ServiceNow during the third quarter worth $48,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $1,124.64 on Monday. The firm’s 50 day simple moving average is $1,077.07 and its 200 day simple moving average is $943.86. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The company has a market capitalization of $231.68 billion, a price-to-earnings ratio of 174.91, a P/E/G ratio of 5.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Oppenheimer boosted their target price on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. UBS Group upped their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. JMP Securities lifted their target price on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 21st. Barclays boosted their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC lifted their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $1,093.34.

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.