Covea Finance Sells 12,635 Shares of ServiceNow, Inc. (NYSE:NOW)

Covea Finance decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 25.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 36,565 shares of the information technology services provider's stock after selling 12,635 shares during the quarter. ServiceNow accounts for approximately 1.7% of Covea Finance's holdings, making the stock its 17th biggest holding. Covea Finance's holdings in ServiceNow were worth $38,763,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the third quarter worth approximately $30,000. DT Investment Partners LLC increased 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 valued at $35,000 after purchasing an additional 17 shares in the last quarter. Oakworth Capital Inc. raised its position in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new position in ServiceNow in the second quarter worth $39,000. Finally, Dunhill Financial LLC grew its holdings in shares of ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider's stock worth $46,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,276 shares of company stock valued at $20,535,115. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NOW. UBS Group lifted their price target on ServiceNow from $900.00 to $1,055.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Truist Financial raised their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a "hold" rating in a report on Thursday, December 12th. Raymond James started coverage on ServiceNow in a research report on Tuesday, December 24th. They issued an "outperform" rating and a $1,200.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and an average price target of $1,071.39.

ServiceNow Trading Up 2.3 %

ServiceNow stock traded up $23.70 during mid-day trading on Wednesday, hitting $1,054.99. 1,286,426 shares of the company's stock were exchanged, compared to its average volume of 1,242,440. 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 quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $217.33 billion, a P/E ratio of 164.07, a PEG ratio of 6.43 and a beta of 0.99. The company's 50 day simple moving average is $1,066.34 and its 200-day simple moving average is $927.52.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the firm posted $1.21 earnings per share. ServiceNow's revenue was up 22.2% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.