Avity Investment Management Inc. Has $47.47 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

Avity Investment Management Inc. lowered its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 3.3% in the 3rd quarter, Holdings Channel reports. The firm owned 53,072 shares of the information technology services provider’s stock after selling 1,833 shares during the quarter. ServiceNow accounts for approximately 3.7% of Avity Investment Management Inc.’s portfolio, making the stock its 5th largest position. Avity Investment Management Inc.’s holdings in ServiceNow were worth $47,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. M&G Plc purchased a new stake in shares of ServiceNow in the 1st quarter valued at about $11,030,000. AXA S.A. raised its holdings in shares of ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares in the last quarter. HWG Holdings LP purchased a new stake in shares of ServiceNow in the 2nd quarter valued at about $2,679,000. New Mexico Educational Retirement Board raised its holdings in shares of ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after buying an additional 1,078 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research reports. Truist Financial raised their price objective on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. JMP Securities raised their price objective on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Piper Sandler raised their price target on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $880.04.

View Our Latest Stock Analysis on NOW

ServiceNow Trading Down 0.6 %

NYSE NOW opened at $938.59 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $949.00. The firm has a market capitalization of $192.41 billion, a PE ratio of 100.38, a P/E/G ratio of 5.63 and a beta of 0.99. The stock’s 50 day moving average is $861.16 and its 200 day moving average is $786.18.

ServiceNow (NYSE:NOW – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company posted $0.77 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by insiders.

ServiceNow Company Profile

(Free Report)

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.

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