Clio Asset Management LLC Sells 291 Shares of ServiceNow, Inc. (NYSE:NOW)

Clio Asset Management LLC decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,034 shares of the information technology services provider’s stock after selling 291 shares during the period. ServiceNow makes up about 9.4% of Clio Asset Management LLC’s portfolio, making the stock its 4th biggest position. Clio Asset Management LLC’s holdings in ServiceNow were worth $12,757,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in ServiceNow in the third quarter valued at approximately $30,000. DT Investment Partners LLC grew its position in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the last quarter. Oakworth Capital Inc. increased its holdings in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares in the last quarter. Dunhill Financial LLC raised its position in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of ServiceNow during the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 0.8 %

Shares of ServiceNow stock opened at $1,124.64 on Monday. The stock has a market capitalization of $231.68 billion, a PE ratio of 174.91, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The stock has a 50 day moving average price of $1,077.07 and a two-hundred day moving average price of $945.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

Wall Street Analyst Weigh In

NOW has been the subject of several recent research reports. Barclays upped their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Oppenheimer upped their price target on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Robert W. Baird lifted their price target on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial increased their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group raised their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,093.34.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,867 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at $7,007,026.71. This represents a 21.44 % 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 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.