Valeo Financial Advisors LLC Increases Stake in ServiceNow, Inc. $NOW

Valeo Financial Advisors LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 480.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,253 shares of the information technology services provider’s stock after purchasing an additional 12,625 shares during the quarter. Valeo Financial Advisors LLC’s holdings in ServiceNow were worth $2,337,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC grew its position in ServiceNow by 359.1% during the 4th quarter. SVB Wealth LLC now owns 2,525 shares of the information technology services provider’s stock valued at $387,000 after purchasing an additional 1,975 shares during the last quarter. Swiss Life Asset Management Ltd grew its position in ServiceNow by 340.4% during the 4th quarter. Swiss Life Asset Management Ltd now owns 367,120 shares of the information technology services provider’s stock valued at $56,239,000 after purchasing an additional 283,757 shares during the last quarter. Naples Global Advisors LLC grew its position in ServiceNow by 364.7% during the 4th quarter. Naples Global Advisors LLC now owns 1,645 shares of the information technology services provider’s stock valued at $252,000 after purchasing an additional 1,291 shares during the last quarter. Sentry Investment Management LLC grew its position in ServiceNow by 400.0% during the 4th quarter. Sentry Investment Management LLC now owns 2,920 shares of the information technology services provider’s stock valued at $447,000 after purchasing an additional 2,336 shares during the last quarter. Finally, Shoker Investment Counsel Inc. lifted its stake in ServiceNow by 369.9% during the 4th quarter. Shoker Investment Counsel Inc. now owns 1,640 shares of the information technology services provider’s stock valued at $251,000 after acquiring an additional 1,291 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the transaction, the director owned 46,430 shares in the company, valued at $4,697,323.10. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Fipps sold 9,641 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the sale, the insider owned 11,757 shares in the company, valued at approximately $1,245,419.01. The trade was a 45.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,164 shares of company stock worth $2,497,021 over the last quarter. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NOW. FBN Securities lowered their target price on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Benchmark began coverage on shares of ServiceNow in a research note on Wednesday, April 1st. They set a “buy” rating and a $125.00 target price on the stock. BNP Paribas Exane upgraded shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 target price on the stock in a research note on Monday, March 16th. Finally, DA Davidson restated a “buy” rating and set a $190.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $144.71.

Check Out Our Latest Stock Report on NOW

More ServiceNow News

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ServiceNow Price Performance

Shares of NYSE:NOW opened at $91.51 on Tuesday. The firm’s 50 day moving average price is $102.18 and its 200-day moving average price is $131.38. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $94.35 billion, a PE ratio of 54.53, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82.

ServiceNow (NYSE:NOWGet Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The business’s quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current year.

ServiceNow Profile

(Free Report)

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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