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

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Clio Asset Management LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,973 shares of the information technology services provider's stock after selling 1,061 shares during the quarter. ServiceNow accounts for 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NOW. GAM Holding AG increased its stake in shares of ServiceNow by 22.6% in the 1st quarter. GAM Holding AG now owns 11,647 shares of the information technology services provider's stock worth $9,273,000 after acquiring an additional 2,149 shares during the last quarter. Perfromance Wealth Partners LLC raised its stake in ServiceNow by 7.8% during the first quarter. Perfromance Wealth Partners LLC now owns 1,031 shares of the information technology services provider's stock worth $821,000 after purchasing an additional 75 shares during the period. Worth Financial Advisory Group LLC boosted its holdings in ServiceNow by 50.2% in the 1st quarter. Worth Financial Advisory Group LLC now owns 886 shares of the information technology services provider's stock valued at $705,000 after purchasing an additional 296 shares during the last quarter. Cabot Wealth Management Inc. grew its stake in shares of ServiceNow by 0.6% in the 1st quarter. Cabot Wealth Management Inc. now owns 4,903 shares of the information technology services provider's stock valued at $3,903,000 after buying an additional 31 shares during the period. Finally, PFG Investments LLC raised its position in shares of ServiceNow by 17.8% during the 1st quarter. PFG Investments LLC now owns 1,596 shares of the information technology services provider's stock valued at $1,271,000 after buying an additional 241 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 1.6%

NYSE NOW traded up $15.47 during mid-day trading on Tuesday, hitting $995.87. The company's stock had a trading volume of 1,510,961 shares, compared to its average volume of 1,482,224. 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 52-week low of $678.66 and a 52-week high of $1,198.09. The stock's fifty day simple moving average is $968.01 and its two-hundred day simple moving average is $968.25. The firm has a market capitalization of $206.13 billion, a P/E ratio of 135.31, a price-to-earnings-growth ratio of 4.48 and a beta of 0.96.

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NOW shares. Morgan Stanley increased their price target on ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Barclays set a $1,085.00 price objective on shares of ServiceNow in a report on Wednesday, May 7th. Evercore ISI boosted their target price on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, William Blair restated an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

Get Our Latest Stock Analysis on ServiceNow

About ServiceNow

(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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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