Brookstone Capital Management has grown its position in parts of ServiceNow, Inc. (NYSE: NOW – Get Rating) by 29.2% in the first quarter, Holdings Channel.com reports. The fund owns 1,608 shares of the information technology services provider’s stock after buying an additional 363 shares in the quarter. Brookstone Capital Management’s holdings in ServiceNow were valued at $ 822,000 in its most recent SEC filing.
Several other large investors have also recently changed their stock holdings. Powered by BlackRock Inc. its holdings in ServiceNow shares of 0.4% in the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $ 10,509,544,000 after buying an additional 65,623 shares last quarter. State Street Corp strengthened its holdings in shares of ServiceNow by 3.2% in the 4th quarter. State Street Corp. now owns 7,870,165 shares of the information technology services provider’s stock worth $ 5,108,603,000 after buying an additional 241,296 shares last quarter. Geode Capital Management LLC strengthened its holdings in shares of ServiceNow by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 3,082,765 shares of the information technology services provider’s stock worth $ 1,995,048,000 after buying an additional 106,519 shares last quarter. Nuveen Asset Management LLC boosted its holdings in ServiceNow shares by 11.7% in the 4th quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock worth $ 1,898,748,000 after buying an additional 305,908 shares last quarter. Finally, Brown Advisory Inc. expanded. its holdings in ServiceNow shares of 16.6% in the 4th quarter. Brown Advisory Inc. now owns 2,480,958 shares of the information technology services provider’s stock worth $ 1,610,414,000 after buying an additional 352,766 shares last quarter. 87.20% of the stock is currently owned by institutional investors.
In related news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction 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 sale, the director now owns 707 shares of the company’s stock, valued at $ 393,664.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $ 477.52, for a total value of $ 3,342,640.00. Following the completion of the sale, the chief operating officer now directly owns 38,980 shares of the company’s stock, valued at approximately $ 18,613,729.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,770 shares of the company’s stock worth $ 8,999,332. Insiders own 0.28% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. Credit Suisse Group cut their target price on ServiceNow shares from $ 800.00 to $ 700.00 in a report on Thursday, April 28th. Truist Financial lowered their price target on ServiceNow shares from $ 700.00 to $ 600.00 in a report on Tuesday, May 10th. Mizuho lowered their price target on ServiceNow shares from $ 650.00 to $ 550.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. 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 on ServiceNow shares in a report on Thursday, March 31st. They set a “hold” rating on the stock. Two analysts rated the stock with a sell rating, two issued a hold rating and twenty-five gave a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $ 640.70.
NYSE NOW shares opened at $ 504.09 on Friday. 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, current ratio of 1.12 and quick ratio of 1.12. The company’s 50-day simple moving average is $ 464.80 and its two-hundred-day simple moving average is $ 533.92. The stock has a market capitalization of $ 101.05 billion, a P/E ratio of 458.26, a PEG ratio of 9.84 and a beta of 1.09.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 EPS for the quarter, beating analysts ’consensus estimates of $ 0.34 by $ 0.13. The business had revenue of $ 1.72 billion for the quarter, compared to analysts ’expectations of $ 1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. Business quarterly revenue rose 26.6% on a year-over-year basis. In the same period last year, the business earned $ 0.50 revenue per share. As a group, equities analysts expect ServiceNow, Inc. will post 1.73 earnings per share for the current financial year.
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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