ServiceNow, Inc. (NYSE:NOW) Holdings Decreased by Avity Investment Management Inc.

Avity Investment Management Inc. lowered its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,643 shares of the information technology services provider's stock after selling 1,429 shares during the period. ServiceNow comprises 4.3% of Avity Investment Management Inc.'s portfolio, making the stock its 4th largest position. Avity Investment Management Inc.'s holdings in ServiceNow were worth $54,748,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NOW. Truvestments Capital LLC bought a new position in shares of ServiceNow during the third quarter worth about $30,000. DT Investment Partners LLC lifted its holdings in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after buying an additional 17 shares during the last quarter. Oakworth Capital Inc. grew its position in shares of ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $39,000. Finally, Dunhill Financial LLC raised its position in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider's stock valued at $46,000 after acquiring an additional 21 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

NYSE NOW traded up $23.70 on Wednesday, reaching $1,054.99. 1,286,426 shares of the stock traded hands, compared to its average volume of 1,242,440. 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 firm's fifty day simple moving average is $1,066.34 and its 200 day simple moving average is $927.52. The company has a market cap of $217.33 billion, a price-to-earnings ratio of 164.07, a P/E/G ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the company earned $1.21 earnings per share. ServiceNow's revenue was up 22.2% compared to the same quarter last year. As a group, research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. 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 report on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Stifel Nicolaus raised their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Raymond James started coverage on ServiceNow in a report on Tuesday, December 24th. They set an "outperform" rating and a $1,200.00 target price for the company. Finally, Canaccord Genuity Group raised their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a "buy" rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,071.39.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now owns 11,000 shares of the company's stock, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the company's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the sale, the director now directly owns 10,467 shares of the company's stock, valued at $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,276 shares of company stock worth $20,535,115 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

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.