Diversify Advisory Services LLC Cuts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Diversify Advisory Services LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 12.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,399 shares of the information technology services provider's stock after selling 346 shares during the period. Diversify Advisory Services LLC's holdings in ServiceNow were worth $2,458,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOW. World Investment Advisors LLC grew its position in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. International Assets Investment Management LLC lifted its stake in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider's stock worth $1,059,912,000 after acquiring an additional 1,183,739 shares during the period. Bank of Montreal Can boosted its holdings in ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider's stock valued at $1,206,178,000 after acquiring an additional 935,848 shares in the last quarter. Wellington Management Group LLP increased its position in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the period. Finally, FMR LLC raised its holdings in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $14.86 during mid-day trading on Monday, reaching $1,072.02. 1,079,535 shares of the company traded hands, compared to its average volume of 944,889. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The firm has a market cap of $220.84 billion, a PE ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99. The company's 50 day moving average price is $1,069.67 and its 200-day moving average price is $933.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of ServiceNow in a research note on Friday. They set an "overweight" rating and a $1,332.00 target price on the stock. Jefferies Financial Group lifted their price objective on ServiceNow from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. BMO Capital Markets increased their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an "outperform" rating in a research report on Thursday, October 10th. KeyCorp cut ServiceNow from an "overweight" rating to a "sector weight" rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company increased their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,080.38.

Insider Buying and Selling at ServiceNow

In related news, insider Nicholas Tzitzon sold 313 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,884,725.40. This trade represents a 7.90 % 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, CEO William R. Mcdermott sold 12,271 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock valued at $21,016,751 over the last ninety days. 0.25% of the stock is currently owned by company 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.