Avalon Global Asset Management LLC Has $19.85 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Avalon Global Asset Management LLC lowered its stake in ServiceNow, Inc. (NYSE:NOWFree Report) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,100 shares of the information technology services provider’s stock after selling 150 shares during the quarter. ServiceNow makes up 7.0% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Avalon Global Asset Management LLC’s holdings in ServiceNow were worth $19,852,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Argonautica Private Wealth Management Inc. raised its holdings in shares of ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after acquiring an additional 13 shares in the last quarter. Wealth Management Partners LLC raised its holdings in shares of ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after acquiring an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 14 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of ServiceNow by 8.6% in the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after acquiring an additional 15 shares in the last quarter. Finally, Claro Advisors LLC raised its holdings in shares of ServiceNow by 3.6% in the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after acquiring an additional 15 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on NOW shares. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. BMO Capital Markets lowered their price target on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Wells Fargo & Company raised their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Wolfe Research reissued an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a report on Friday, May 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $814.48.

View Our Latest Analysis on NOW

Insider Activity

In other news, insider Paul John Smith sold 602 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total transaction of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Frederic B. Luddy sold 598 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $741.92, for a total value of $443,668.16. Following the sale, the director now directly owns 428 shares of the company’s stock, valued at $317,541.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul John Smith sold 602 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now directly owns 3,619 shares in the company, valued at $2,785,725.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,315 shares of company stock valued at $3,846,512. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 1.8 %

Shares of NOW stock traded up $11.91 during trading hours on Wednesday, reaching $683.91. The company’s stock had a trading volume of 536,613 shares, compared to its average volume of 1,274,951. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a one year low of $526.11 and a one year high of $815.32. The stock has a market capitalization of $140.20 billion, a P/E ratio of 71.85, a P/E/G ratio of 4.14 and a beta of 0.96. The firm’s fifty day simple moving average is $736.12 and its 200 day simple moving average is $735.31.

ServiceNow (NYSE:NOWGet Free Report) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Equities research analysts expect that ServiceNow, Inc. will post 6.5 EPS for the current year.

ServiceNow Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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