Avity Investment Management Inc. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,663 shares of the information technology services provider's stock after selling 980 shares during the period. ServiceNow makes up 3.3% of Avity Investment Management Inc.'s portfolio, making the stock its 9th biggest holding. Avity Investment Management Inc.'s holdings in ServiceNow were worth $40,335,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after buying an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after buying an additional 509,467 shares during the last quarter. FMR LLC raised its position in shares of ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after buying an additional 272,506 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after buying an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after buying an additional 2,686,291 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.
Insider Activity
In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer now directly owns 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock valued at $6,611,245 over the last three months. 0.38% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Guggenheim increased their price target on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a research report on Thursday, April 24th. Mizuho dropped their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Finally, Oppenheimer reissued an "outperform" rating and issued a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.
Read Our Latest Stock Analysis on NOW
ServiceNow Price Performance
Shares of NOW traded up $13.10 during mid-day trading on Friday, hitting $1,030.70. 956,231 shares of the company traded hands, compared to its average volume of 1,483,332. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $915.04 and a 200 day moving average of $974.91. The stock has a market capitalization of $213.34 billion, a price-to-earnings ratio of 150.91, a PEG 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, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the firm earned $3.41 earnings per share. ServiceNow's revenue was up 18.6% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.
ServiceNow Profile
(
Free Report)
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.
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