Sycomore Asset Management Sells 1,948 Shares of ServiceNow, Inc. (NYSE:NOW)

Sycomore Asset Management lowered its position in ServiceNow, Inc. (NYSE:NOW) by 8.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,525 shares of the information technology services provider’s stock after selling 1,948 shares during the quarter. ServiceNow comprises approximately 3.1% of Sycomore Asset Management’s investment portfolio, making the stock its 6th biggest holding. Sycomore Asset Management’s holdings in ServiceNow were worth $14,445,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its stake in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares during the period. PFG Private Wealth Management LLC acquired a new position in shares of ServiceNow during the third quarter valued at approximately $28,000. Fortitude Family Office LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $41,000. Oliver Lagore Vanvalin Investment Group increased its stake in shares of ServiceNow by 30.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 14 shares during the period. Finally, Friedenthal Financial acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of ServiceNow stock traded up $5.44 during trading on Wednesday, hitting $746.39. 1,702,385 shares of the company’s stock traded hands, compared to its average volume of 1,186,092. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s fifty day moving average price is $761.32 and its 200 day moving average price is $706.74. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32. The company has a market cap of $153.29 billion, a PE ratio of 88.75, a PEG ratio of 4.56 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business earned $0.88 EPS. The firm’s revenue was up 25.6% on a year-over-year basis. Analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup raised their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. The Goldman Sachs Group lifted their price target on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. BMO Capital Markets lifted their price target on shares of ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus restated a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group lifted their price target on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $780.37.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares in the company, valued at $776,373.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,164 shares of company stock worth $9,940,303. Corporate insiders own 0.25% of the company’s stock.

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.