Avanza Fonder AB Has $11.19 Million Position in ServiceNow, Inc. (NYSE:NOW)

Avanza Fonder AB reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 13,582 shares of the information technology services provider's stock after selling 429 shares during the period. Avanza Fonder AB's holdings in ServiceNow were worth $11,192,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $48,802,000. Kingsview Wealth Management LLC lifted its stake in shares of ServiceNow by 4.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,765 shares of the information technology services provider's stock valued at $2,931,000 after purchasing an additional 127 shares during the period. Kestra Private Wealth Services LLC increased its holdings in ServiceNow by 30.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,927 shares of the information technology services provider's stock valued at $5,223,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its holdings in ServiceNow by 21.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 356 shares of the information technology services provider's stock valued at $377,000 after acquiring an additional 64 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NOW. Redburn Atlantic assumed coverage on shares of ServiceNow in a report on Wednesday, February 19th. They set a "buy" rating for the company. Guggenheim lifted their price target on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. lowered their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. BMO Capital Markets boosted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Finally, Piper Sandler reduced their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 84 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $85,932.00. Following the completion of the sale, the chief financial officer now directly owns 11,218 shares of the company's stock, valued at approximately $11,476,014. This represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the sale, the chief executive officer now directly owns 6,614 shares of the company's stock, valued at $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

NOW stock traded down $19.66 during trading on Friday, hitting $987.71. 1,332,159 shares of the company's stock traded hands, compared to its average volume of 1,481,295. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock has a fifty day moving average price of $939.30 and a two-hundred day moving average price of $974.01. The stock has a market capitalization of $204.44 billion, a price-to-earnings ratio of 144.61, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.41 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.