Clio Asset Management LLC Sells 1,061 Shares of ServiceNow, Inc. (NYSE:NOW)

Clio Asset Management LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,973 shares of the information technology services provider's stock after selling 1,061 shares during the quarter. ServiceNow makes up approximately 6.9% of Clio Asset Management LLC's investment portfolio, making the stock its 7th largest position. Clio Asset Management LLC's holdings in ServiceNow were worth $8,736,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. grew its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Tuesday, May 6th. Bank of America decreased their target price on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Morgan Stanley upped their target price on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company increased their price target on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Stock Down 1.3%

NYSE NOW opened at $969.78 on Friday. The business has a fifty day moving average price of $964.42 and a two-hundred day moving average price of $971.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The stock has a market capitalization of $200.73 billion, a PE ratio of 131.76, a PEG ratio of 4.53 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the company earned $3.41 EPS. ServiceNow's revenue was up 18.6% compared to the same quarter last year. Equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Anita M. Sands sold 248 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the transaction, the director now directly owns 10,643 shares of the company's stock, valued at $10,740,277.02. This trade represents a 2.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,716 shares of company stock worth $6,611,245. Insiders own 0.38% of the company's stock.

ServiceNow Company 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.

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