O Shaughnessy Asset Management LLC strengthened its holdings in ServiceNow, Inc. (NYSE: NOW) by 64.3% in the 3rd quarter, according to its most recent disclosure to the SEC. The company owns 2,927 shares of the information technology services provider’s stock after purchasing an additional 1,146 shares during the period. O Shaughnessy Asset Management LLC’s holdings in ServiceNow were valued at $ 1,822,000 at the end of the most recent reporting period.
Some other hedge funds and other institutional investors also bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position on ServiceNow by 13.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp. now owns 36,300 shares of the information technology services provider’s stock worth $ 19,949,000 after acquiring an additional 4,284 shares in the last quarter. WINTON GROUP Ltd grew its position in ServiceNow shares by 11.5% in the second quarter. WINTON GROUP Ltd now owns 817 shares of the information technology services provider’s stock worth $ 449,000 after buying an additional 84 shares in the last quarter. Cresset Asset Management LLC increased its position in ServiceNow shares by 2.0% in the second quarter. Cresset Asset Management LLC now owns 2,782 shares of the information technology services provider’s stock worth $ 1,529,000 after buying an additional 54 shares in the last quarter. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of ServiceNow in the second quarter worth approximately $ 201,000. Finally, Gerber Kawasaki Wealth & Investment Management acquired a new stake in shares of ServiceNow in the second quarter worth approximately $ 224,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.
Several analysts have recently weighed in on the NOW components. Barclays lowered their target price on ServiceNow shares from $ 791.00 to $ 680.00 in a research report on Wednesday, January 12th. Jefferies Financial Group raised their target price on shares of ServiceNow from $ 675.00 to $ 765.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. FBN Securities raised their target price on shares of ServiceNow from $ 650.00 to $ 700.00 and gave the stock an “outperform” rating in a research report on Thursday, October 28th. Bank of America raised their price target on shares of ServiceNow from $ 700.00 to $ 800.00 and gave the stock a “buy” rating in a report on Wednesday, October 20th. Finally, Needham & Company LLC raised their price target on shares of ServiceNow from $ 641.00 to $ 780.00 and gave the stock a “buy” rating in a report on Monday, November 1st. Three investment analysts rated the stock with a hold rating, twenty-nine gave a buy rating and one gave a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $ 720.90.
In related news, Director Frederic B. Luddy sold 15,000 shares of ServiceNow stock in a transaction dated Wednesday, January 12th. The stock was sold at an average price of $ 577.36, for a total value of $ 8,660,400.00. The sale was disclosed in a legal filing with the SEC, available at this link. Also, CFO Gina Mastantuono sold 66 shares of ServiceNow stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $ 695.31, for a total value of $ 45,890.46. The disclosure for this sale can be found here. Over the past ninety days, insiders have sold 24,655 shares of the company’s stock worth $ 15,161,081. 0.35% of the stock is owned by corporate insiders.
NYSE NOW shares opened at $ 531.02 on Monday. ServiceNow, Inc. has a fifty -two -week low of $ 448.27 and a fifty -two -week high of $ 707.60. The company’s 50-day simple moving average is $ 635.98 and its 200-day simple moving average is $ 626.88. The company has a fast ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.42. The stock has a market cap of $ 105.67 billion, a P/E ratio of 487.17, a P/E/G ratio of 9.60 and a beta of 1.01.
ServiceNow (NYSE: NOW) last released its earnings results on Wednesday, October 27th. The information technology service provider reported $ 1.55 earnings per share (EPS) for the quarter, ahead of analysts ’consensus estimates of $ 1.39 of $ 0.16. The company had revenue of $ 1.51 billion for the quarter, compared to analyst estimates of $ 1.48 billion. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. ServiceNow’s revenue rose 31.3% compared to the same quarter last year. In the same period last year, the company earned $ 0.30 profit per share. On average, sell-side analysts expect ServiceNow, Inc. will post 1.39 earnings per share for the current financial year.
About ServiceNow
ServiceNow, Inc. is engaged in providing enterprise cloud computing solutions. The company delivers digital workflows on an enterprise cloud platform called Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products. .
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