Burney Co. Decreases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Burney Co. decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,038 shares of the information technology services provider's stock after selling 1,538 shares during the quarter. Burney Co.'s holdings in ServiceNow were worth $9,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Polymer Capital Management HK LTD grew its position 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 purchasing an additional 981 shares in the last quarter. AXA S.A. grew its stake 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 period. Avidian Wealth Enterprises LLC raised its stake in shares of ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC boosted its holdings 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 worth $2,565,000 after buying an additional 765 shares during the last quarter. Finally, HWG Holdings LP bought a new position in ServiceNow during the second quarter valued at about $2,679,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Wells Fargo & Company upped their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Canaccord Genuity Group increased their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company a "buy" rating in a report on Friday, December 20th. The Goldman Sachs Group boosted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, Robert W. Baird increased their price target on ServiceNow from $900.00 to $975.00 and gave the stock 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 one has given a strong buy rating to the company's stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,071.39.

Insider Activity

In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,276 shares of company stock worth $20,535,115. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

NOW stock traded up $23.70 during midday trading on Wednesday, reaching $1,054.99. The company had a trading volume of 1,273,735 shares, compared to its average volume of 1,240,917. The firm has a 50-day moving average price of $1,066.34 and a 200-day moving average price of $927.52. 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 has a market capitalization of $217.33 billion, a P/E ratio of 164.07, a P/E/G ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The firm's quarterly revenue was up 22.2% compared to the same quarter last year. On average, research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

About ServiceNow

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.