Stonnington Group LLC reduced its position in shares of ServiceNow, Inc. (NYSE: NOW-Get Rating) by 24.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The company owns 3,628 shares of the information technology services provider’s stock after selling 1,150 shares during the period. Stonnington Group LLC’s holdings in ServiceNow were valued at $ 1,855,000 at the end of the most recent reporting period.
Some other hedge funds have been buying and selling NOW shares recently. Chilton Capital Management LLC bought a new stake in ServiceNow in the fourth quarter worth approximately $ 25,000. AHL Investment Management Inc. bought a new stake in ServiceNow in the fourth quarter worth approximately $ 35,000. Lee Financial Co grew its position on ServiceNow by 671.4% in the fourth quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 35,000 after acquiring an additional 47 shares during the period. Delos Wealth Advisors LLC bought a new stake in ServiceNow in the fourth quarter worth approximately $ 40,000. Finally, NuWave Investment Management LLC bought a new stake in ServiceNow in the first quarter worth approximately $ 52,000. 87.20% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Christopher Bedi sold 700 shares of stock in a transaction that took place on Friday, March 25th. The stock was sold at an average price of $ 581.04, for a total value of $ 406,728.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, available through the SEC website. Also, Director Frederic B. Luddy sold 6,600 shares of stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $ 556.81, for a total value of $ 3,674,946.00. Following the completion of the transaction, the director now directly owns 707 shares of the company’s stock, valued at $ 393,664.67. The disclosure for this sale can be found here. Insiders have sold 18,470 shares of the company’s stock worth $ 9,406,060 over the past ninety days. Corporate insiders own 0.28% of the company’s stock.
Some brokerages have commented on NOW. Exane BNP Paribas cut ServiceNow from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 29th. Royal Bank of Canada lowered their price target on ServiceNow from $ 700.00 to $ 660.00 and set an “outperform” rating on the stock in a research note on Monday, April 25th. Piper Sandler reduced their price target on ServiceNow from $ 650.00 to $ 600.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 25th. Jefferies Financial Group reduced their price target on ServiceNow from $ 700.00 to $ 550.00 in a research note on Monday, May 23rd. Finally, StockNews.com began coverage on ServiceNow in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Two investment analysts rated the stock with a sell rating, two assigned a hold rating and twenty-five gave a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $ 640.70.
NYSE: NOW shares traded $ 7.66 during trading on Wednesday, reaching $ 462.93. The company’s 11,408 shares traded, compared to its average volume of 1,570,872. The stock has a market capitalization of $ 92.80 billion, a price-to-earnings ratio of 413.88, a PEG ratio of 9.00 and a beta of 1.09. The business’s fifty day moving average is $ 466.65 and its 200-day moving average is $ 537.40. ServiceNow, Inc. has a person low of $ 406.47 and a person high of $ 707.60. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37.
ServiceNow (NYSE: NOW-Get Rating) last posted its earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 EPS for the quarter, beating the consensus $ 0.34 of $ 0.13. The company had revenue of $ 1.72 billion in the quarter, compared to analyst estimates of $ 1.70 billion. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. Business revenue rose 26.6% compared to the same quarter last year. In the same period last year, the company earned $ 0.50 profit per share. On average, analysts predict that ServiceNow, Inc. will post 1.73 EPS for the current year.
About ServiceNow (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.
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