EULAV Asset Management Reduces Position in ServiceNow, Inc. (NYSE:NOW)

EULAV Asset Management cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,164 shares of the information technology services provider's stock after selling 1,000 shares during the period. ServiceNow makes up 1.3% of EULAV Asset Management's portfolio, making the stock its 26th biggest position. EULAV Asset Management's holdings in ServiceNow were worth $52,676,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP purchased a new position in ServiceNow in the fourth quarter worth about $27,000. Atala Financial Inc purchased a new position in ServiceNow in the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow in the fourth quarter worth about $32,000. Heck Capital Advisors LLC purchased a new position in ServiceNow in the fourth quarter worth about $37,000. Finally, Cassady Schiller Wealth Management LLC boosted its position in ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after purchasing an additional 11 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, Director Jonathan Chadwick sold 770 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares in the company, valued at $2,985,842.10. The trade was a 19.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction 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 owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock worth $6,611,245 over the last quarter. 0.38% of the stock is owned by insiders.

ServiceNow Stock Performance

NYSE NOW opened at $1,046.03 on Monday. The company has a market cap of $216.51 billion, a P/E ratio of 142.12, a P/E/G ratio of 4.80 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The business's 50 day moving average price is $1,003.94 and its 200-day moving average price is $962.18. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NOW shares. Robert W. Baird lifted their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. TD Securities reaffirmed a "buy" rating and set a $1,100.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Morgan Stanley lifted their price objective on ServiceNow from $950.00 to $1,040.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Finally, FBN Securities raised ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,068.23.

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.

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