Flagship Harbor Advisors LLC strengthened its position in ServiceNow, Inc. (NYSE: NOW – Get Rating) by 36.8% in the first quarter, HoldingsChannel reports. The fund owns 1,597 shares of the information technology services provider’s stock after buying an additional 430 shares in the quarter. Flagship Harbor Advisors LLC’s holdings in ServiceNow were valued at $ 889,000 in its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Chilton Capital Management LLC bought a new stake in ServiceNow in the 4th quarter worth approximately $ 25,000. AHL Investment Management Inc. bought a new position 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 in the last quarter. Delos Wealth Advisors LLC bought a new position in ServiceNow in the 4th quarter worth approximately $ 40,000. Finally, Maryland Capital Advisors Inc. bought a new position in ServiceNow in the 4th quarter worth approximately $ 53,000. Institutional investors and hedge funds own 87.20% of the company’s stock.
NOW has been the subject of several recent analyst reports. Citigroup raised their price target on ServiceNow from $ 623.00 to $ 656.00 in a report on Thursday, April 28th. Cowen reduced their target price on ServiceNow from $ 725.00 to $ 695.00 in a report on Thursday, April 28th. BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price for the company. in a report on Tuesday, March 29th. Stifel Nicolaus cut their price target on ServiceNow from $ 650.00 to $ 550.00 in a report on Wednesday, May 25th. Finally, Piper Sandler cut their price target on ServiceNow from $ 650.00 to $ 600.00 and set an “overweight” rating for the company in a report on Wednesday, May 25th. Two analysts rated the stock with a sell rating, two gave a hold rating and twenty -five gave a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $ 640.70.
In related news, Director Frederic B. Luddy sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $ 501.92, for a total transaction of $ 354,857.44. Following the completion of the transaction, the director now owns 660 shares in the company, valued at $ 331,267.20. The sale was disclosed in a filing with the SEC, available through this hyperlink. Also, insider Paul John Smith sold 412 shares of the company’s 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 transaction, the insider now owns 1,755 shares of the company’s stock, valued at approximately $ 749,683.35. The disclosure for this sale can be found here. Over the past 90 days, insiders have sold 17,770 shares of the company’s stock worth $ 8,999,332. 0.28% of the stock is owned by corporate insiders.
Shares of NOW stock opened at $ 504.09 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a fifty -two week low of $ 406.47 and a fifty -two week high of $ 707.60. The stock has a 50-day average moving price of $ 464.80 and a two-hundred-day average moving price of $ 534.84. The company has a market capitalization of $ 101.05 billion, a P/E ratio of 458.26, a PEG ratio of 9.30 and a beta of 1.09.
ServiceNow (NYSE: NOW-Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 revenue per share for the quarter, beating the consensus $ 0.34 of $ 0.13. The company had revenue of $ 1.72 billion in the quarter, compared to the agreed $ 1.70 billion. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. Business revenue rose 26.6% on a year-on-year basis. In the same quarter last year, the company posted $ 0.50 earnings per share. As a group, equities analysts predict that ServiceNow, Inc. will post 1.73 earnings per share for the current year.
ServiceNow Company 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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