EULAV Asset Management Sells 2,200 Shares of ServiceNow, Inc. (NYSE:NOW)

EULAV Asset Management lessened its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,164 shares of the information technology services provider's stock after selling 2,200 shares during the period. ServiceNow comprises about 1.5% of EULAV Asset Management's portfolio, making the stock its 20th biggest position. EULAV Asset Management's holdings in ServiceNow were worth $60,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. First Horizon Advisors Inc. raised its position in shares of ServiceNow by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 719 shares of the information technology services provider's stock worth $643,000 after purchasing an additional 199 shares during the period. Advisors Asset Management Inc. raised its position in shares of ServiceNow by 19.0% during the third quarter. Advisors Asset Management Inc. now owns 10,507 shares of the information technology services provider's stock worth $9,397,000 after purchasing an additional 1,678 shares during the period. Howe & Rusling Inc. raised its position in shares of ServiceNow by 10.4% during the third quarter. Howe & Rusling Inc. now owns 467 shares of the information technology services provider's stock worth $418,000 after purchasing an additional 44 shares during the period. NS Partners Ltd raised its position in ServiceNow by 34.7% in the 3rd quarter. NS Partners Ltd now owns 23,002 shares of the information technology services provider's stock valued at $20,573,000 after buying an additional 5,930 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC raised its position in ServiceNow by 13.5% in the 3rd quarter. Kirtland Hills Capital Management LLC now owns 1,351 shares of the information technology services provider's stock valued at $1,208,000 after buying an additional 161 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 0.1 %

NYSE NOW traded up $0.88 during trading on Wednesday, hitting $1,022.98. 1,105,096 shares of the company traded hands, compared to its average volume of 1,285,041. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The business has a fifty day simple moving average of $938.70 and a 200 day simple moving average of $829.46. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $210.73 billion, a P/E ratio of 158.97, a PEG ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $2.75 billion. During the same period last year, the business posted $1.21 earnings per share. The firm's revenue was up 22.2% compared to the same quarter last year. As a group, sell-side analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 33.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,373 shares of company stock worth $7,139,335 over the last quarter. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on NOW. TD Cowen increased their price target on ServiceNow from $900.00 to $1,000.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Scotiabank began coverage on ServiceNow in a research report on Tuesday. They issued a "sector outperform" rating and a $1,230.00 price target for the company. Oppenheimer increased their price target on ServiceNow from $825.00 to $1,020.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their target price on ServiceNow from $875.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company lifted their target price on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $986.39.

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.