Valley National Advisers Inc. Has $689,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Valley National Advisers Inc. lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 21.5% in the third quarter, HoldingsChannel.com reports. The fund owned 771 shares of the information technology services provider’s stock after selling 211 shares during the period. Valley National Advisers Inc.’s holdings in ServiceNow were worth $689,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. raised its position in ServiceNow by 45.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,389 shares of the information technology services provider’s stock worth $1,821,000 after purchasing an additional 743 shares during the last quarter. Vicus Capital bought a new stake in ServiceNow during the first quarter worth $306,000. SteelPeak Wealth LLC purchased a new stake in shares of ServiceNow in the first quarter valued at about $485,000. LVW Advisors LLC boosted its stake in shares of ServiceNow by 18.0% in the 1st quarter. LVW Advisors LLC now owns 347 shares of the information technology services provider’s stock worth $265,000 after buying an additional 53 shares during the last quarter. Finally, Chapin Davis Inc. bought a new stake in ServiceNow during the first quarter worth $380,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $950.85 on Monday. The firm has a market capitalization of $194.92 billion, a price-to-earnings ratio of 101.70, a PEG ratio of 5.04 and a beta of 0.99. The stock has a fifty day moving average of $885.56 and a 200 day moving average of $797.66. ServiceNow, Inc. has a 52 week low of $548.44 and a 52 week high of $979.78. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the company posted $1.21 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, research analysts expect that ServiceNow, Inc. will post 7.41 earnings per share for the current year.

Wall Street Analyst Weigh In

NOW has been the subject of several research reports. Guggenheim reissued a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. KeyCorp raised their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a report on Thursday. Canaccord Genuity Group raised their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Robert W. Baird upped their target price on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

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.