ServiceNow, Inc. (NYSE:NOW) Shares Sold by Avity Investment Management Inc.

Avity Investment Management Inc. lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 51,643 shares of the information technology services provider’s stock after selling 1,429 shares during the period. ServiceNow accounts for 4.3% of Avity Investment Management Inc.’s portfolio, making the stock its 4th largest position. Avity Investment Management Inc.’s holdings in ServiceNow were worth $54,748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in NOW. Polymer Capital Management HK LTD lifted its stake in shares of ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after buying an additional 981 shares during the period. AXA S.A. lifted its position in shares of ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the period. Avidian Wealth Enterprises LLC grew its holdings in shares of ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 138 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares in the last quarter. Finally, HWG Holdings LP bought a new position in ServiceNow in the second quarter worth $2,679,000. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,276 shares of company stock worth $20,535,115 over the last ninety days. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 1.4 %

NOW stock opened at $1,029.85 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a market cap of $212.15 billion, a P/E ratio of 160.16, a PEG ratio of 6.43 and a beta of 0.99. The business has a fifty day moving average of $1,066.34 and a 200-day moving average of $927.52.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Raymond James assumed coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target for the company. JMP Securities increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein boosted their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.

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.