Affiance Financial LLC Trims Position in ServiceNow, Inc. (NYSE:NOW)

Affiance Financial LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.5% during the fourth quarter, Holdings Channel reports. The firm owned 977 shares of the information technology services provider’s stock after selling 25 shares during the quarter. Affiance Financial LLC’s holdings in ServiceNow were worth $1,036,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOW. Redhawk Wealth Advisors Inc. increased its stake in ServiceNow by 2.2% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares during the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the period. First Affirmative Financial Network increased its holdings in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares in the last quarter. Finally, BluePointe Capital Management LLC lifted its stake in ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after purchasing an additional 12 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock valued at $21,016,751 over the last three months. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent research reports. Needham & Company LLC lifted their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. JMP Securities raised their price objective on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 21st. Mizuho upped their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Robert W. Baird lifted their target price on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,093.34.

ServiceNow Stock Performance

NYSE NOW opened at $1,124.64 on Friday. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The company’s 50 day moving average is $1,077.07 and its 200-day moving average is $942.47. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $231.68 billion, a P/E ratio of 174.91, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 earnings per share. Sell-side analysts predict that ServiceNow, Inc. will post 7.06 earnings per share for the current year.

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.