LVW Advisors LLC Has $544,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

LVW Advisors LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 513 shares of the information technology services provider’s stock after selling 15 shares during the quarter. LVW Advisors LLC’s holdings in ServiceNow were worth $544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of NOW. Profund Advisors LLC increased its holdings in shares of ServiceNow by 6.5% during the 2nd quarter. Profund Advisors LLC now owns 4,349 shares of the information technology services provider’s stock worth $3,421,000 after purchasing an additional 267 shares during the period. ProShare Advisors LLC increased its stake in ServiceNow by 6.9% during the second quarter. ProShare Advisors LLC now owns 39,115 shares of the information technology services provider’s stock valued at $30,771,000 after acquiring an additional 2,517 shares during the period. EverSource Wealth Advisors LLC raised its holdings in ServiceNow by 5.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 815 shares of the information technology services provider’s stock valued at $664,000 after acquiring an additional 45 shares in the last quarter. Harmony Asset Management LLC bought a new stake in shares of ServiceNow in the 2nd quarter worth approximately $393,000. Finally, Nippon Life Global Investors Americas Inc. grew its holdings in shares of ServiceNow by 8.5% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 72,480 shares of the information technology services provider’s stock worth $57,018,000 after purchasing an additional 5,690 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 1.4 %

Shares of NYSE NOW opened at $1,072.02 on Tuesday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $220.84 billion, a P/E ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99. The firm has a 50 day moving average price of $1,069.67 and a 200 day moving average price of $933.26.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. Analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on NOW. Cantor Fitzgerald assumed coverage on ServiceNow in a research report on Friday. They issued an “overweight” rating and a $1,332.00 target price for the company. Citigroup raised their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays increased their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Needham & Company LLC lifted their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Oppenheimer increased their target price on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,080.38.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the completion of the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at $6,956,183.22. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Company Profile

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.