Wealthcare Advisory Partners LLC has raised its stake in shares of ServiceNow, Inc. (NYSE: NOW – Get Rating) by 69.8% in the first quarter, HoldingsChannel reports. The fund owns 1,610 shares of the information technology services provider’s stock after purchasing an additional 662 shares during the period. Wealthcare Advisory Partners LLC’s holdings in ServiceNow are worth $ 897,000 in its most recent SEC filing.
Other large investors have also recently changed their holdings in the company. Norges Bank bought a new position in ServiceNow in the fourth quarter worth $ 1,117,096,000. Allspring Global Investments Holdings LLC bought a new position in shares of ServiceNow in the 4th quarter worth approximately $ 400,884,000. Fisher Asset Management LLC grew its position in ServiceNow shares by 164.8% in the 4th 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 during the period. TD Asset Management Inc. grew its position in ServiceNow shares by 84.7% in the 4th 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 during the period. Finally, Brown Advisory Inc. expanded. its position 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 acquiring an additional 352,766 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.
NYSE: NOW opened at $ 496.70 on Tuesday. The firm’s fifty-day moving average is $ 464.79 and its 200-day moving average is $ 532.10. 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 52 -week low of $ 406.47 and a 52 -week high of $ 707.60. The company has a market cap of $ 99.57 billion, a P/E ratio of 451.55, a P/E/G ratio of 10.22 and a beta of 1.09.
ServiceNow (NYSE: NOW-Get Rating) last posted its quarterly earnings data 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. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. 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. The company’s quarterly revenue rose 26.6% on a year-over-year basis. As a group, sell-side analysts expect ServiceNow, Inc. will post 1.73 earnings per share for the current year.
In related news, COO Chirantan Jitendra Desai sold 7,000 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $ 477.52, for a total transaction of $ 3,342,640.00. Following the transaction, the chief operating officer now owns 38,980 shares in the company, valued at approximately $ 18,613,729.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, Director Frederic B. Luddy sold 707 shares of business stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $ 501.92, for a total transaction of $ 354,857.44. Following the transaction, the director now owns 660 shares in the company, valued at approximately $ 331,267.20. 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.
NOW has been the subject of several research analyst reports. BMO Capital Markets reduced their target price on ServiceNow shares from $ 635.00 to $ 570.00 in a report on Wednesday, April 27th. Jefferies Financial Group lowered their price target on ServiceNow shares from $ 700.00 to $ 550.00 in a research note on Monday, May 23rd. StockNews.com began coverage of ServiceNow shares in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler lowered their price target on ServiceNow shares from $ 650.00 to $ 600.00 and set an “overweight” rating for the company in a research note on Wednesday, May 25th. Finally, Cowen lowered their price target on ServiceNow shares from $ 725.00 to $ 695.00 in a research note on Thursday, April 28th. Two investment 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 company currently has an average rating of “Moderate Buy” and an average target price 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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