Selective Wealth Management Inc. Sells 436 Shares of ServiceNow, Inc. (NYSE:NOW)

Selective Wealth Management Inc. lessened its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,864 shares of the information technology services provider's stock after selling 436 shares during the period. ServiceNow accounts for 2.0% of Selective Wealth Management Inc.'s holdings, making the stock its 11th biggest holding. Selective Wealth Management Inc.'s holdings in ServiceNow were worth $5,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NOW. Bradley Foster & Sargent Inc. CT acquired a new stake in shares of ServiceNow during the 2nd quarter worth approximately $256,000. Mercer Global Advisors Inc. ADV grew its stake in ServiceNow by 33.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 10,371 shares of the information technology services provider's stock valued at $8,159,000 after acquiring an additional 2,595 shares during the period. Intech Investment Management LLC increased its holdings in shares of ServiceNow by 7.6% during the second quarter. Intech Investment Management LLC now owns 6,388 shares of the information technology services provider's stock valued at $5,025,000 after acquiring an additional 450 shares in the last quarter. Brighton Jones LLC raised its position in shares of ServiceNow by 0.7% during the second quarter. Brighton Jones LLC now owns 2,959 shares of the information technology services provider's stock worth $2,328,000 after purchasing an additional 20 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of ServiceNow by 24.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 9,569 shares of the information technology services provider's stock worth $7,528,000 after purchasing an additional 1,893 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analysts Set New Price Targets

NOW has been the subject of a number of recent research reports. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research note on Friday. They set an "overweight" rating and a $1,332.00 price target for the company. KeyCorp lowered shares of ServiceNow from an "overweight" rating to a "sector weight" rating in a report on Friday, December 13th. Scotiabank began coverage on ServiceNow in a research note on Tuesday, November 19th. They set a "sector outperform" rating and a $1,230.00 price target for the company. Robert W. Baird increased their price objective on ServiceNow from $900.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Finally, UBS Group lifted their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,080.38.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This represents a 16.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the business's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 over the last 90 days. Corporate insiders own 0.25% of the company's stock.

ServiceNow Stock Performance

Shares of NOW stock traded up $14.86 on Friday, hitting $1,072.02. 1,079,535 shares of the stock were exchanged, compared to its average volume of 944,889. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The firm's 50 day moving average is $1,069.67 and its two-hundred day moving average is $932.23. The firm has a market capitalization of $220.84 billion, a PE ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

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

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.