Flagship Harbor Advisors LLC strengthened its position in the shares of ServiceNow, Inc. (NYSE: NOW – Get Rating) by 36.8% in the first quarter, according to its latest disclosure to the Securities & Exchange Commission. The institutional investor owns 1,597 shares of the information technology services provider’s stock after buying an additional 430 shares during the period. Flagship Harbor Advisors LLC’s holdings in ServiceNow were worth $ 889,000 at the end of the most recent quarter.
Some other institutional investors have also recently made changes to their business positions. Norges Bank bought a new position in shares of ServiceNow in the fourth quarter worth approximately $ 1,117,096,000. Allspring Global Investments Holdings LLC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $ 400,884,000. Fisher Asset Management LLC raised its holdings in shares of ServiceNow by 164.8% in the fourth quarter. Fisher Asset Management LLC now owns 894,730 shares of the information technology services provider’s stock worth $ 580,778,000 after acquiring an additional 556,871 shares last quarter. Lifted by TD Asset Management Inc. its holdings in ServiceNow shares of 84.7% in the fourth quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock worth $ 783,606,000 after acquiring an additional 553,517 shares last quarter. Finally, Brown Advisory Inc lifted. its holdings in ServiceNow shares of 16.6% in the fourth 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 last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
In related news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction on Friday, May 13th. The shares were sold at an average price of $ 446.04, for a total value of $ 55,755.00. Following the completion of the sale, the insider now owns 1,446 shares of the company’s stock, valued at approximately $ 644,973.84. The transaction was disclosed in a legal filing with the SEC, accessible through the SEC website. Also, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $ 556.81, for a total transaction of $ 3,674,946.00. Following the completion of the sale, the director now directly owns 707 shares of the company’s stock, valued at approximately $ 393,664.67. The disclosure for this sale can be found here. Over the past ninety days, insiders have sold 17,770 shares of the company’s stock worth $ 8,999,332. Insiders own 0.28% of the company’s stock.
Shares of NOW stock opened at $ 504.09 on Friday. The company has a market cap of $ 101.05 billion, a price-to-earnings ratio of 458.26, a price-to-earnings-growth ratio of 9.30 and a beta of 1.09. ServiceNow, Inc. has a 52 -week low of $ 406.47 and a 52 -week 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. The firm has a 50-day moving average of $ 464.80 and a 200-day moving average of $ 534.84.
ServiceNow (NYSE: NOW-Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 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 net margin of 3.56% and a return on equity of 8.66%. The company’s quarterly revenue rose 26.6% on a year-over-year basis. In the same quarter last year, the company posted $ 0.50 EPS. Analysts expect ServiceNow, Inc. will post 1.73 earnings per share for the current year.
Some research companies have commented recently on NOW. Stifel Nicolaus lowered their target price on ServiceNow shares from $ 650.00 to $ 550.00 in a report on Wednesday, May 25th. Royal Bank of Canada lowered their target price on shares of ServiceNow from $ 700.00 to $ 660.00 and set an “outperform” rating for the company in a report on Monday, April 25th. Morgan Stanley lowered their target price on ServiceNow shares to $ 594.00 and set an “already” rating for the company in a report on Wednesday, May 18th. Cowen lowered their price target on ServiceNow shares from $ 725.00 to $ 695.00 in a report on Thursday, April 28th. Finally, StockNews.com began coverage of ServiceNow shares in a report on Thursday, March 31st. They issued a “hold” rating for the company. Two equities research analysts rated the stock with a sell rating, two gave a hold rating and twenty-five gave a buy rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $ 640.70.
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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