AMI Asset Management Corp Has $24.15 Million Position in ServiceNow, Inc. (NYSE:NOW)

AMI Asset Management Corp cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Truvestments Capital LLC acquired a new position in shares of ServiceNow in the third quarter valued at $30,000. DT Investment Partners LLC lifted its position 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 acquiring an additional 17 shares during the last quarter. Oakworth Capital Inc. boosted its holdings in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares during the period. Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow during the second quarter worth approximately $39,000. Finally, Dunhill Financial LLC lifted its holdings in ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,072.02 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $220.84 billion, a PE ratio of 166.72, a P/E/G ratio of 4.85 and a beta of 0.99. The firm has a fifty day simple moving average of $1,070.37 and a 200 day simple moving average of $935.27. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. On average, sell-side analysts forecast that ServiceNow, Inc. will post 7.06 EPS for the current year.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NOW shares. Robert W. Baird raised their price target on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein boosted their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group raised their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada upped their target price on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group raised their price target on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,080.38.

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.