Aaron Wealth Advisors LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 195,468 shares of the information technology services provider’s stock, valued at approximately $351,000. Aaron Wealth Advisors LLC owned approximately 0.10% of ServiceNow as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Lane Generational LLC lifted its position in shares of ServiceNow by 3.8% in the first quarter. Lane Generational LLC now owns 9,861 shares of the information technology services provider’s stock valued at $5,491,000 after purchasing an additional 365 shares during the period. Powered by Mercer Global Advisors Inc. ADV lifted its position in shares of ServiceNow by 29.1% in the first quarter. Mercer Global Advisors Inc. ADV now owns 4,946 shares of the information technology services provider’s stock valued at $2,754,000 after acquiring an additional 1,116 shares during the period. Van ECK Associates Corp boosted its stake in ServiceNow by 95.5% during the first quarter. Van ECK Associates Corp now owns 321,405 shares of the information technology services provider’s stock valued at $178,988,000 after acquiring an additional 156,987 shares during the last quarter. Signature Wealth Management Partners LLC grew its position in ServiceNow by 8.3% during the first quarter. Signature Wealth Management Partners LLC now owns 650 shares of the information technology services provider’s stock valued at $362,000 after buying an additional 50 shares in the last quarter. Finally, Accurate Wealth Management LLC bought a new position in ServiceNow in the 1st quarter valued at approximately $239,000. Institutional investors own 87.20% of the company’s stock.
ServiceNow Stock Drops 3.5%
Shares of NOW opened at $459.71 on Tuesday. The business’s 50 day moving average is $468.17 and its 200 day moving average is $499.49. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow, Inc. has a 12-month low of $406.47 and a 12-month high of $707.60. The company has a market capitalization of $92.86 billion, a PE ratio of 505.18, a price-to-earnings-growth ratio of 9.69 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company posted $0.38 EPS. The company’s revenue rose 24.3% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on NOW shares. Citigroup dropped their price target on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Mizuho cut their price objective on ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, July 28th. TheStreet lowered ServiceNow from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. JMP Securities reduced their price target on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. Finally, KeyCorp lowered their price objective on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $598.84.
Insider Buying and Selling at ServiceNow
In other news, COO Chirantan Jitendra Desai sold 7,000 shares of the company’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the completion of the transaction, the chief operating officer now owns 38,980 shares in the company, valued at $18,613,729.60. The sale was disclosed in a document filed with the SEC, which is available on the SEC website. In related news, General Counsel Russell S. Elmer sold 758 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $486.36, for a total transaction of $368,660.88. Following the sale, the general counsel now owns 9,293 shares of the company’s stock, valued at $4,519,743.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the transaction, the chief operating officer now owns 38,980 shares of the company’s stock, valued at approximately $18,613,729.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,427 shares of company stock valued at $16,189,898. Insiders own 0.28% of the company’s stock.
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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