Affiance Financial LLC Sells 25 Shares of ServiceNow, Inc. (NYSE:NOW)

Affiance Financial LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 977 shares of the information technology services provider’s stock after selling 25 shares during the period. Affiance Financial LLC’s holdings in ServiceNow were worth $1,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Polymer Capital Management HK LTD increased its stake in ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after buying an additional 981 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares during the last quarter. Cardano Risk Management B.V. purchased a new position in ServiceNow during the fourth quarter worth $105,090,000. Finally, Czech National Bank grew its holdings in ServiceNow by 6.7% during the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider’s stock valued at $47,486,000 after purchasing an additional 2,829 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 0.8 %

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

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 7.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on NOW shares. Scotiabank began coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. The Goldman Sachs Group boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. TD Cowen increased their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Barclays boosted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,093.34.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 81 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. This represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by company insiders.

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.