Capital Asset Advisory Services LLC Sells 22 Shares of ServiceNow, Inc. (NYSE:NOW)

Capital Asset Advisory Services LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 388 shares of the information technology services provider’s stock after selling 22 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in ServiceNow were worth $417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth $30,000. DT Investment Partners LLC boosted its holdings 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 purchasing an additional 17 shares during the last quarter. Oakworth Capital Inc. grew its position in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares in the last quarter. Dunhill Financial LLC increased its stake in ServiceNow by 70.0% in the 3rd 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 during the last quarter. Finally, Vestor Capital LLC bought a new position in shares of ServiceNow during the 3rd quarter worth approximately $48,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.4 %

Shares of NOW stock opened at $1,140.70 on Tuesday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,165.98. The business’s fifty day moving average is $1,077.07 and its 200 day moving average is $945.28. 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 company has a market capitalization of $234.98 billion, a PE ratio of 177.40, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NOW shares. TD Cowen upped their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Raymond James initiated coverage on ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective for the company. Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup increased their price target on shares of ServiceNow from $1,071.00 to $1,432.00 and gave the company a “buy” rating in a research report on Monday. Finally, Mizuho lifted their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,105.79.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 3,027 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the 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 directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % 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 ninety days. 0.25% of the stock is currently owned by insiders.

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.