Cut by Private Trust Co. THAT its holders in ServiceNow, Inc. (NYSE: NOW – Get Rating) by 52.6% in the 1st quarter, according to its latest 13F filing with the Securities & Exchange Commission. The institutional investor owns 847 shares of the information technology services provider’s stock after selling 941 shares during the period. Holders of Private Trust Co. NA to ServiceNow was worth $ 472,000 in its most recent SEC filing.
Several other hedge funds and other institutional investors have also changed their holdings in the stock. Chilton Capital Management LLC bought a new stake in shares of ServiceNow in the fourth quarter worth approximately $ 25,000. AHL Investment Management Inc. bought a new stake in ServiceNow in the 4th quarter worth approximately $ 35,000. Lee Financial Co increased its holdings in ServiceNow by 671.4% in the 4th quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 35,000 after buying an additional 47 shares last quarter. Delos Wealth Advisors LLC bought a new position in ServiceNow in the fourth quarter worth $ 40,000. Finally, Maryland Capital Advisors Inc. acquired a new position in shares of ServiceNow in the fourth quarter worth $ 53,000. 87.20% of the stock is currently owned by hedge funds and other institutional investors.
NYSE: NOW opened at $ 485.53 on Friday. The stock has a market cap of $ 97.33 billion, a price-to-earnings ratio of 441.39, a price-to-earnings-growth ratio of 9.23 and a beta of 1.09. ServiceNow, Inc. has a person low of $ 406.47 and a person high of $ 707.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day simple moving average is $ 464.87 and its 200-day simple moving average is $ 535.95.
ServiceNow (NYSE: NOW-Get Rating) last announced its earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 earnings per share (EPS) for the quarter, beating analysts ’consensus estimates of $ 0.34 by $ 0.13. ServiceNow had 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 analyst estimates of $ 1.70 billion. At the same time last year, the company posted $ 0.50 EPS. ServiceNow’s quarterly revenue rose 26.6% on a year-over-year basis. On average, equities research analysts predict that ServiceNow, Inc. will post 1.73 EPS for the current year.
In other ServiceNow news, 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 transaction of $ 3,674,946.00. Following the transaction, the director now owns 707 shares of the company’s stock, valued at approximately $ 393,664.67. The transaction was disclosed in a document filed with the SEC, available at this link. Also, insider Christopher Bedi sold 495 shares of the business’s stock in a transaction that took place on Friday, April 29th. The shares were sold at an average price of $ 489.18, for a total value of $ 242,144.10. Following the completion of the sale, the insider now owns 12,977 shares of the company’s stock, valued at $ 6,348,088.86. The disclosure for this sale can be found here. Insiders sold a total of 17,770 shares of the company’s stock worth $ 8,999,332 in the last quarter. 0.28% of the stock is currently owned by insiders.
NOW has been the subject of several recent research reports. Wells Fargo & Company began coverage on ServiceNow in a research report on Wednesday, May 18th. They set an “overweight” rating and a $ 600.00 price goal for the company. Jefferies Financial Group reduced their price target on ServiceNow shares from $ 700.00 to $ 550.00 in a research note on Monday, May 23rd. Exane BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 29th. 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. Finally, Stifel Nicolaus lowered their price target on ServiceNow from $ 650.00 to $ 550.00 in a research report on Wednesday, May 25th. Two equities research analysts rated the stock with a sell rating, two gave a hold rating and twenty-five assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.
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