The Moody National Bank Trust Division cut its holdings in ServiceNow, Inc. (NYSE: NOW – Get Rating) by 0.8% in the first quarter, HoldingsChannel.com reports. The company owns 5,119 shares of the information technology services provider’s stock after selling 43 shares during the period. Moody’s National Bank Trust Division’s holdings in ServiceNow were worth $ 2,851,000 in its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their business positions. Raised by BlackRock Inc. its position in ServiceNow shares of 0.4% in the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $ 10,509,544,000 after buying an additional 65,623 shares in the last quarter. State Street Corp raised its position on shares of ServiceNow by 3.2% in the 4th quarter. State Street Corp. now owns 7,870,165 shares of the information technology services provider’s stock worth $ 5,108,603,000 after acquiring an additional 241,296 shares in the last quarter. Geode Capital Management LLC raised its position on shares of ServiceNow by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 3,082,765 shares of the information technology services provider’s stock worth $ 1,995,048,000 after acquiring an additional 106,519 shares in the last quarter. Nuveen Asset Management LLC raised its position in ServiceNow shares by 11.7% in the 4th quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock worth $ 1,898,748,000 after acquiring an additional 305,908 shares in the last quarter. Finally, Brown Advisory Inc. its position in ServiceNow shares by 16.6% in the 4th quarter. Brown Advisory Inc. now owns 2,480,958 shares of the information technology services provider’s stock worth $ 1,610,414,000 after acquiring an additional 352,766 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors.
ServiceNow stock traded $ 7.48 in mid-day trading on Wednesday, reaching $ 462.75. The company’s stock has a trading volume of 6,945 shares, compared to its average volume of 1,570,872. The company’s 50 day moving average is $ 466.65 and its 200 day moving average is $ 537.40. The company has a market cap of $ 92.76 billion, a PE ratio of 413.88, a price-to-earnings-growth ratio of 9.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, current ratio of 1.12 and quick 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 announced its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 earnings per share (EPS) for the quarter, ahead of the consensus estimate of $ 0.34 of $ 0.13. The company had revenue of $ 1.72 billion in the quarter, compared to the consolidated $ 1.70 billion. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. Business revenue for the quarter rose 26.6% on a year-over-year basis. In the same period last year, the business earned $ 0.50 EPS. As a group, analysts predict that ServiceNow, Inc. will post 1.73 EPS for the current year.
In other news, insider Christopher Bedi sold 700 shares of the company’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $ 581.04, for a total transaction of $ 406,728.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, available through the SEC website. Also, insider Paul John Smith sold 125 shares of the company’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $ 446.04, for a total value of $ 55,755.00. Following the sale, the insider now directly owns 1,446 shares of the company’s stock, valued at $ 644,973.84. The disclosure for this sale can be found here. In the past three months, insiders have sold 18,470 shares of the company’s stock worth $ 9,406,060. Company insiders own 0.28% of the company’s stock.
NOW has been the subject of several research reports. Stifel Nicolaus lowered their target price on ServiceNow from $ 650.00 to $ 550.00 in a research report on Wednesday, May 25th. Cowen lowered their price target on ServiceNow from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. Wells Fargo & Company began coverage on ServiceNow in a research report on Wednesday, May 18th. They released a “overweight” rating and a $ 600.00 price target on the stock. Barclays lowered their price target on ServiceNow from $ 652.00 to $ 613.00 in a research report on Thursday, April 28th. Finally, Jefferies Financial Group lowered their target price on ServiceNow from $ 700.00 to $ 550.00 in a research report on Monday, May 23rd. Two equities research analysts rated the stock with a sell rating, two assigned a hold rating and twenty-five gave a buy rating to the stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $ 640.70.
ServiceNow profile (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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.
Further Reading
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