Sawgrass Asset Management LLC Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

Sawgrass Asset Management LLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,615 shares of the information technology services provider's stock after selling 730 shares during the period. ServiceNow comprises about 1.5% of Sawgrass Asset Management LLC's holdings, making the stock its 19th largest position. Sawgrass Asset Management LLC's holdings in ServiceNow were worth $14,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new position in ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc raised its holdings in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 28 shares during the period. EntryPoint Capital LLC increased its stake in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock worth $30,000 after buying an additional 39 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow in the second quarter valued at approximately $32,000. Finally, DT Investment Partners LLC lifted its stake in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NOW shares. Canaccord Genuity Group raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted 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. StockNews.com upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Finally, Oppenheimer lifted their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus price target of $974.04.

ServiceNow Stock Down 2.7 %

Shares of NOW stock traded down $28.41 during mid-day trading on Friday, reaching $1,011.39. 1,498,472 shares of the company's stock traded hands, compared to its average volume of 1,366,353. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The company has a market cap of $208.35 billion, a P/E ratio of 157.29, a P/E/G ratio of 5.80 and a beta of 0.98. 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 company's 50-day moving average price is $932.47 and its 200-day moving average price is $824.15.

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, 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 during the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the company earned $1.21 earnings per share. ServiceNow's revenue was up 22.2% on a year-over-year basis. On average, equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 94 shares of the firm's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company's stock, valued at $3,027,502.32. The trade was a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,325 shares of company stock worth $5,024,928. 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.