Petredis Investment Advisors LLC Sells 147 Shares of ServiceNow, Inc. (NYSE:NOW)

Petredis Investment Advisors LLC decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,468 shares of the information technology services provider’s stock after selling 147 shares during the period. Petredis Investment Advisors LLC’s holdings in ServiceNow were worth $4,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. Norges Bank bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $1,648,259,000. International Assets Investment Management LLC boosted its holdings in ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares during the last quarter. FMR LLC boosted its holdings in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Cerity Partners LLC boosted its holdings in ServiceNow by 1,073.7% in the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after purchasing an additional 371,648 shares during the last quarter. Finally, Coatue Management LLC purchased a new stake in ServiceNow in the fourth quarter worth approximately $168,217,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 602 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total transaction of $463,389.50. Following the completion of the transaction, the insider now owns 3,619 shares of the company’s stock, valued at approximately $2,785,725.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Paul John Smith sold 602 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $769.75, for a total transaction of $463,389.50. Following the completion of the sale, the insider now owns 3,619 shares of the company’s stock, valued at approximately $2,785,725.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,530 shares of company stock worth $3,997,012. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOW. JMP Securities restated a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a report on Tuesday, May 7th. Morgan Stanley raised their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Wolfe Research reiterated an “outperform” rating and set a $830.00 price target on shares of ServiceNow in a research note on Friday, May 10th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Finally, UBS Group dropped their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $814.48.

View Our Latest Report on NOW

ServiceNow Price Performance

Shares of ServiceNow stock traded down $11.30 on Thursday, hitting $710.20. The company’s stock had a trading volume of 1,118,736 shares, compared to its average volume of 1,289,820. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $728.81 and a 200-day moving average price of $736.28. The company has a market capitalization of $145.59 billion, a P/E ratio of 75.96, a price-to-earnings-growth ratio of 4.45 and a beta of 0.96.

ServiceNow (NYSE:NOWGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. On average, equities research analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

ServiceNow 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.

Further Reading

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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