Valeo Financial Advisors LLC trimmed its holdings in ServiceNow Inc (NYSE:NOW) by 32.8% during the fourth quarter, Holdings Channel reports. The firm owned 512 shares of the information technology services provider’s stock after selling 250 shares during the quarter. Valeo Financial Advisors LLC’s holdings in ServiceNow were worth $145,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Hellman Jordan Management Co. Inc. MA acquired a new stake in ServiceNow during the third quarter worth approximately $2,794,000. Millennium Management LLC increased its holdings in ServiceNow by 1,175.4% in the third quarter. Millennium Management LLC now owns 115,361 shares of the information technology services provider’s stock worth $29,284,000 after purchasing an additional 106,316 shares in the last quarter. Dupont Capital Management Corp lifted its stake in ServiceNow by 1.5% in the third quarter. Dupont Capital Management Corp now owns 3,036 shares of the information technology services provider’s stock valued at $771,000 after buying an additional 44 shares during the period. Metropolitan Life Insurance Co NY lifted its stake in ServiceNow by 4.8% in the third quarter. Metropolitan Life Insurance Co NY now owns 13,746 shares of the information technology services provider’s stock valued at $3,489,000 after buying an additional 630 shares during the period. Finally, Chartwell Investment Partners LLC lifted its stake in ServiceNow by 8.3% in the second quarter. Chartwell Investment Partners LLC now owns 19,607 shares of the information technology services provider’s stock valued at $5,383,000 after buying an additional 1,497 shares during the period. 91.43% of the stock is currently owned by institutional investors.
NOW has been the subject of several research analyst reports. Canaccord Genuity decreased their price target on shares of ServiceNow from $315.00 to $285.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Cfra raised ServiceNow from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. SunTrust Banks assumed coverage on ServiceNow in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $321.00 price objective for the company. Deutsche Bank decreased their price objective on ServiceNow from $305.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, BTIG Research upped their target price on ServiceNow to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ServiceNow has an average rating of “Buy” and an average price target of $303.82.
In related news, Director Frederic B. Luddy sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $303.56, for a total value of $6,678,320.00. Following the transaction, the director now owns 1,213 shares in the company, valued at $368,218.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David Schneider sold 2,446 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $247.31, for a total value of $604,920.26. Following the completion of the transaction, the insider now owns 42,362 shares in the company, valued at approximately $10,476,546.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,050 shares of company stock worth $23,803,624. Corporate insiders own 1.00% of the company’s stock.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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