Doliver Advisors LP Sells 38 Shares of ServiceNow, Inc. (NYSE:NOW)

Doliver Advisors LP lowered its position in ServiceNow, Inc. (NYSE:NOW) by 1.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,934 shares of the information technology services provider’s stock after selling 38 shares during the period. ServiceNow makes up about 0.9% of Doliver Advisors LP’s portfolio, making the stock its 17th largest position. Doliver Advisors LP’s holdings in ServiceNow were worth $3,110,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in ServiceNow in the third quarter valued at about $30,000. DT Investment Partners LLC grew its position in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the period. Semmax Financial Advisors Inc. acquired a new stake in ServiceNow during the 2nd quarter worth approximately $39,000. Oakworth Capital Inc. raised its holdings in ServiceNow by 46.7% during the 3rd 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. Finally, Dunhill Financial LLC lifted its stake in 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 buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $20,861,626 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $3.87 on Monday, hitting $1,069.90. The stock had a trading volume of 500,542 shares, compared to its average volume of 802,804. The stock has a market cap of $220.40 billion, a price-to-earnings ratio of 166.39, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The business’s 50 day moving average is $1,053.53 and its two-hundred day moving average is $913.45. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NOW. BMO Capital Markets raised their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group lifted their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. StockNews.com raised ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Mizuho lifted their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Scotiabank initiated coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,061.04.

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.