Valeo Financial Advisors LLC lowered its position in ServiceNow Inc (NYSE:NOW) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 512 shares of the information technology services provider’s stock after selling 250 shares during the period. Valeo Financial Advisors LLC’s holdings in ServiceNow were worth $145,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in ServiceNow by 17.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,722 shares of the information technology services provider’s stock valued at $3,309,000 after acquiring an additional 1,702 shares during the period. Intellectus Partners LLC bought a new stake in shares of ServiceNow in the fourth quarter worth about $399,000. Advisor Partners LLC bought a new stake in shares of ServiceNow in the fourth quarter worth about $404,000. Global Retirement Partners LLC raised its position in shares of ServiceNow by 32.3% during the fourth quarter. Global Retirement Partners LLC now owns 8,254 shares of the information technology services provider’s stock worth $2,330,000 after purchasing an additional 2,013 shares during the period. Finally, Weatherly Asset Management L. P. raised its position in shares of ServiceNow by 3.5% during the fourth quarter. Weatherly Asset Management L. P. now owns 3,665 shares of the information technology services provider’s stock worth $1,035,000 after purchasing an additional 125 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Frederic B. Luddy sold 22,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $303.56, for a total transaction of $6,678,320.00. Following the completion of the transaction, the director now directly owns 1,213 shares of the company’s stock, valued at $368,218.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Schneider sold 2,446 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $247.31, for a total value of $604,920.26. Following the transaction, the insider now directly owns 42,362 shares of the company’s stock, valued at $10,476,546.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,050 shares of company stock valued at $23,803,624. 1.00% of the stock is owned by insiders.
Several equities analysts recently issued reports on the company. Mizuho lowered ServiceNow from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $308.00 to $230.00 in a research report on Wednesday, October 23rd. Raymond James increased their target price on ServiceNow from $300.00 to $360.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 22nd. Canaccord Genuity dropped their target price on shares of ServiceNow from $315.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. SunTrust Banks initiated coverage on shares of ServiceNow in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $321.00 price target on the stock. Finally, Cfra upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. ServiceNow presently has a consensus rating of “Buy” and a consensus price target of $303.82.
Shares of NOW opened at $309.39 on Monday. ServiceNow Inc has a 12 month low of $184.01 and a 12 month high of $318.84. The firm has a fifty day simple moving average of $289.40 and a 200 day simple moving average of $271.55. The stock has a market capitalization of $58.01 billion, a price-to-earnings ratio of 1,718.93, a PEG ratio of 10.40 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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