Claro Advisors LLC Decreases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Claro Advisors LLC lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,183 shares of the information technology services provider’s stock after selling 12 shares during the period. Claro Advisors LLC’s holdings in ServiceNow were worth $1,254,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of ServiceNow in the third quarter valued at approximately $30,000. DT Investment Partners LLC grew its stake in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. Oakworth Capital Inc. grew its stake in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares during the period. Semmax Financial Advisors Inc. purchased a new position in shares of ServiceNow in the second quarter valued at $39,000. Finally, Dunhill Financial LLC boosted its stake in shares of 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 period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW traded down $19.66 during trading on Monday, reaching $1,004.91. 1,173,292 shares of the company’s stock were exchanged, compared to its average volume of 1,145,720. The business has a 50 day moving average price of $1,064.01 and a 200-day moving average price of $924.13. The stock has a market capitalization of $207.01 billion, a P/E ratio of 156.28, a PEG ratio of 6.43 and a beta of 0.99. 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, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90.

ServiceNow (NYSE:NOW) last announced 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 return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on NOW. UBS Group increased their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Oppenheimer increased their price objective on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. TD Cowen increased their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays raised their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on shares of 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 given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,071.39.

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.