Sawgrass Asset Management LLC Reduces Holdings in ServiceNow, Inc. (NYSE:NOW)

Sawgrass Asset Management LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,392 shares of the information technology services provider’s stock after selling 576 shares during the period. ServiceNow comprises approximately 1.5% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 22nd biggest position. Sawgrass Asset Management LLC’s holdings in ServiceNow were worth $12,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Argonautica Private Wealth Management Inc. lifted its position in shares of ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after purchasing an additional 13 shares during the period. Wealth Management Partners LLC raised its holdings in ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after purchasing an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 14 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 15 shares in the last quarter. Finally, Claro Advisors LLC boosted its stake in ServiceNow by 3.6% in the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after acquiring an additional 15 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,369 shares of company stock worth $8,538,300. 0.25% of the stock is currently owned by company insiders.

ServiceNow Price Performance

ServiceNow stock traded up $7.95 during midday trading on Wednesday, hitting $721.28. 1,145,970 shares of the company’s stock were exchanged, compared to its average volume of 1,225,324. ServiceNow, Inc. has a 52-week low of $435.07 and a 52-week high of $815.32. The company has a market cap of $148.14 billion, a P/E ratio of 77.14, a PEG ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The stock has a 50-day moving average price of $751.22 and a two-hundred day moving average price of $717.54.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $825.00 target price on shares of ServiceNow in a research note on Tuesday. Royal Bank of Canada raised their price objective on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. UBS Group dropped their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $807.88.

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.