ServiceNow, Inc. (NYSE:NOW) Shares Sold by LVW Advisors LLC

LVW Advisors LLC trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 513 shares of the information technology services provider’s stock after selling 15 shares during the quarter. LVW Advisors LLC’s holdings in ServiceNow were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Polymer Capital Management HK LTD lifted its stake in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after buying an additional 981 shares during the last quarter. AXA S.A. lifted its position in ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in 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 purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in ServiceNow by 36.4% during 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 period. Finally, Cardano Risk Management B.V. acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $105,090,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Truist Financial increased their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Evercore ISI lifted their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays upped their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein raised their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,080.38.

ServiceNow Trading Up 1.4 %

ServiceNow stock opened at $1,072.02 on Tuesday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. 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 stock has a market cap of $220.84 billion, a P/E ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99. The company’s fifty day simple moving average is $1,069.67 and its 200-day simple moving average is $933.26.

ServiceNow (NYSE:NOW) last issued its 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 the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated 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 owns 3,027 shares in the company, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the sale, the director now owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock worth $21,016,751 over the last ninety days. 0.25% of the stock is currently owned by 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.