Donaldson Capital Management LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,753 shares of the information technology services provider’s stock, valued at approximately $976,000.
A number of other hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SevenOneSeven Capital Management boosted its holdings in ServiceNow by 3.0% during the fourth quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock valued at $403,000 after buying an additional 18 shares in the last quarter. The Means Investment CO. Inc. boosted its position in shares of ServiceNow by 0.6% in the fourth quarter. The Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock valued at $1,845,000 after acquiring an additional 18 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of ServiceNow by 1.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock valued at $854,000 after acquiring an additional 18 shares during the period. Financial Architects Inc boosted its position in shares of ServiceNow by 5.9% in the first quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after acquiring an additional 21 shares during the period. Finally, boosted by Equitable Holdings Inc. its position in shares of ServiceNow by 4.1% in the fourth quarter. Equitable Holdings Inc. now owns 565 shares of the information technology services provider’s stock valued at $367,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 87.49% of the company’s stock.
Internal Activity
In related news, CFO Gina Mastantuono sold 4,262 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $439.10, for a total transaction of $1,871,444.20. Following the completion of the sale, the chief financial officer now directly owns 4,262 shares in the company, valued at approximately $1,871,444.20. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Gina Mastantuono sold 4,262 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $439.10, for a total transaction of $1,871,444.20. Following the completion of the sale, the chief financial officer now directly owns 4,262 shares in the company, valued at approximately $1,871,444.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,256 shares of company stock valued at $14,019,372. 0.28% of the stock is currently owned by company insiders.
ServiceNow Trading Up 1.5 %
NYSE NOW opened at $450.77 on Friday. The stock has a market capitalization of $91.06 billion, a price-to-earnings ratio of 495.35, a PEG ratio of 9.04 and a beta of 0.94. The stock’s 50 day moving average price is $462.31 and its two hundred day moving average price is $488.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52 week low of $406.47 and a 52 week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. In the same quarter last year, the company earned $0.38 EPS. As a group, analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Changes in Analyst Ratings
Several research firms recently weighed in on NOW. Mizuho decreased their price objective on ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Piper Sandler reduced their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Morgan Stanley reduced their price target on ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Credit Suisse Group cut their price objective on ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Finally, Cowen lowered their price target on ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $598.84.
ServiceNow profile
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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
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