ServiceNow, Inc. (NYSE:NOW) Shares Acquired by TrimTabs Asset Management LLC


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TrimTabs Asset Management LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 20.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,317 shares of the information technology services provider’s stock after acquiring an additional 735 shares during the quarter. ServiceNow makes up about 1.1% of TrimTabs Asset Management LLC’s holdings, making the stock its 16th biggest position. TrimTabs Asset Management LLC’s holdings in ServiceNow were worth $2,136,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Balentine LLC grew its position in ServiceNow by 3.0% in the 4th quarter. Balentine LLC now owns 622 shares of the information technology services provider’s stock valued at $342,000 after buying an additional 18 shares during the last quarter. Paul John Balson grew its position in ServiceNow by 1.5% in the 4th quarter. Paul John Balson now owns 1,258 shares of the information technology services provider’s stock valued at $692,000 after buying an additional 18 shares during the last quarter. Symmetry Partners LLC grew its position in ServiceNow by 1.7% in the 4th quarter. Symmetry Partners LLC now owns 1,152 shares of the information technology services provider’s stock valued at $634,000 after buying an additional 19 shares during the last quarter. RFG Advisory LLC grew its position in ServiceNow by 2.3% in the 4th quarter. RFG Advisory LLC now owns 942 shares of the information technology services provider’s stock valued at $499,000 after buying an additional 21 shares during the last quarter. Finally, Barrett Asset Management LLC grew its position in ServiceNow by 1.2% in the 4th quarter. Barrett Asset Management LLC now owns 1,726 shares of the information technology services provider’s stock valued at $950,000 after buying an additional 21 shares during the last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO William R. Mcdermott sold 7,183 shares of the company’s stock in a transaction dated Friday, January 29th. The shares were sold at an average price of $544.67, for a total transaction of $3,912,364.61. Following the completion of the transaction, the chief executive officer now owns 4,314 shares of the company’s stock, valued at approximately $2,349,706.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 810 shares of the company’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $485.84, for a total transaction of $393,530.40. Following the transaction, the director now directly owns 811 shares of the company’s stock, valued at approximately $394,016.24. The disclosure for this sale can be found here. Insiders sold a total of 32,005 shares of company stock valued at $18,116,418 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

NOW stock traded up $13.97 during trading on Thursday, hitting $524.70. The stock had a trading volume of 29,444 shares, compared to its average volume of 1,549,512. The company’s 50 day moving average price is $509.53 and its two-hundred day moving average price is $521.55. ServiceNow, Inc. has a 1-year low of $263.90 and a 1-year high of $598.37. The stock has a market cap of $102.89 billion, a price-to-earnings ratio of 144.68, a price-to-earnings-growth ratio of 12.70 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.40 and a current ratio of 1.40.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 27th. The information technology services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. ServiceNow had a net margin of 16.60% and a return on equity of 9.79%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 1.11 earnings per share for the current fiscal year.

A number of research firms recently weighed in on NOW. Piper Sandler lifted their price objective on shares of ServiceNow from $500.00 to $550.00 and gave the company a “neutral” rating in a research report on Tuesday, January 5th. OTR Global upgraded shares of ServiceNow to a “positive” rating in a research report on Friday, January 22nd. Macquarie boosted their target price on shares of ServiceNow from $611.00 to $631.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Barclays boosted their target price on shares of ServiceNow from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Finally, Argus boosted their target price on shares of ServiceNow from $600.00 to $640.00 and gave the stock a “buy” rating in a research report on Tuesday, February 2nd. Two analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. ServiceNow has an average rating of “Buy” and a consensus target price of $600.41.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform that offers workflow automation, artificial intelligence, machine learning, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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