Stonnington Group LLC cut its holdings on shares of ServiceNow, Inc. (NYSE: NOW – Get Rating) by 24.1% in the first quarter, according to the company in its most recent 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 in the quarter. Stonnington Group LLC’s holdings in ServiceNow were valued at $ 1,855,000 in its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also increased or decreased their stakes in the company. Cavalier Investments LLC increased its holdings in shares of ServiceNow by 0.7% in the 4th quarter. Cavalier Investments LLC now owns 2,475 shares of the information technology services provider’s stock worth $ 1,607,000 after buying an additional 18 shares during the period. SevenOneSeven Capital Management increased its holdings in ServiceNow shares by 3.0% in the 4th quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock worth $ 403,000 after purchasing an additional 18 shares during the period. Expanded by Means Investment CO. Inc. its holdings in ServiceNow shares were up 0.6% in the 4th quarter. Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock worth $ 1,845,000 after buying an additional 18 shares during the period. Rehmann Capital Advisory Group raised its stake in ServiceNow by 1.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock worth $ 854,000 after acquiring an additional 18 shares in the last quarter. Finally, Equitable Holdings Inc. lifted. its stake in ServiceNow was 4.1% in the 4th quarter. Equitable Holdings Inc. now owns 565 shares of the information technology services provider’s stock worth $ 367,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
NYSE: NOW traded up $ 7.66 in mid -day trading on Wednesday, reaching $ 462.93. 11,408 shares of the stock were traded, compared to its average volume of 1,570,872. The company has a 50-day simple moving average of $ 466.65 and a 200-day simple moving average of $ 537.40. The stock has a market capitalization of $ 92.80 billion, a P/E ratio of 413.88, a P/E/G ratio of 9.00 and a beta of 1.09. 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, Inc. has a 1 year low of $ 406.47 and a 1 year high of $ 707.60.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 earnings per share (EPS) for the quarter, ahead of analysts ’consensus estimates of $ 0.34 of $ 0.13. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $ 1.72 billion for the quarter, compared to the agreed $ 1.70 billion. In the same quarter last year, the business posted $ 0.50 EPS. The company’s quarterly revenue rose 26.6% compared to the same quarter last year. As a group, research analysts predict that ServiceNow, Inc. will post 1.73 EPS for the current year.
Several equities analysts recently released reports on NOW shares. KeyCorp reduced their target price on ServiceNow from $ 692.00 to $ 613.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. Piper Sandler reduced their target price on ServiceNow from $ 650.00 to $ 600.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 25th. UBS Group reduced their target price on ServiceNow to $ 570.00 in a research report on Wednesday, May 25th. BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price on the stock. in a research report on Tuesday, March 29th. Finally, Mizuho reduced their target price on ServiceNow from $ 650.00 to $ 550.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. Two analysts rated the stock with a sell rating, two assigned a hold rating and twenty-five assigned a buy rating to the stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $ 640.70.
In other ServiceNow news, CFO Gina Mastantuono sold 193 shares of ServiceNow stock in a transaction that took place on Tuesday, April 12th. The stock was sold at an average price of $ 525.00, for a total value of $ 101,325.00. Following the transaction, the chief financial officer now directly owns 4,011 shares in the company, valued at approximately $ 2,105,775. The sale was disclosed in a document filed with the Securities & Exchange Commission, available on the SEC website. Also, insider Paul John Smith sold 412 shares of ServiceNow stock in a transaction that took place on Wednesday, May 18th. The shares were sold at an average price of $ 427.17, for a total value of $ 175,994.04. Following the completion of the transaction, the insider now owns 1,755 shares in the company, valued at $ 749,683.35. The disclosure for this sale can be found here. Insiders sold a total of 18,470 shares of the company’s stock worth $ 9,406,060 in the last quarter. Company insiders own 0.28% of the company’s stock.
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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