AMI Asset Management Corp Sells 632 Shares of ServiceNow, Inc. (NYSE:NOW)

AMI Asset Management Corp lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,784 shares of the information technology services provider’s stock after selling 632 shares during the period. AMI Asset Management Corp’s holdings in ServiceNow were worth $24,154,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Transform Wealth LLC bought a new stake in shares of ServiceNow during the 4th quarter worth about $202,000. Chesley Taft & Associates LLC boosted its position in ServiceNow by 1.1% during the fourth quarter. Chesley Taft & Associates LLC now owns 4,013 shares of the information technology services provider’s stock worth $4,254,000 after purchasing an additional 45 shares during the period. First United Bank & Trust raised its position in shares of ServiceNow by 53.6% in the fourth quarter. First United Bank & Trust now owns 722 shares of the information technology services provider’s stock valued at $765,000 after purchasing an additional 252 shares during the period. Aspiriant LLC lifted its stake in shares of ServiceNow by 17.4% in the fourth quarter. Aspiriant LLC now owns 405 shares of the information technology services provider’s stock worth $429,000 after buying an additional 60 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in shares of ServiceNow by 6.3% during the 4th quarter. Ballentine Partners LLC now owns 3,053 shares of the information technology services provider’s stock worth $3,237,000 after buying an additional 182 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,731 shares of company stock worth $21,016,751. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a research report on Friday. They set an “overweight” rating and a $1,332.00 target price for the company. Piper Sandler boosted their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. BMO Capital Markets raised their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Finally, Jefferies Financial Group increased their price objective on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. One 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. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,080.38.

ServiceNow Stock Performance

NOW stock opened at $1,072.02 on Tuesday. The stock has a market capitalization of $220.84 billion, a PE ratio of 166.72, a price-to-earnings-growth ratio of 4.85 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50 day moving average price of $1,070.37 and a 200 day moving average price of $935.27.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping 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 return on equity of 16.03% and a net margin of 12.77%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. Analysts forecast that ServiceNow, Inc. will post 7.06 EPS for the current year.

ServiceNow 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.