NorthCrest Asset Manangement LLC has raised its stake in ServiceNow, Inc. (NYSE: NOW – Get Rating) by 3.3% in the 1st quarter, according to its latest disclosure to the SEC. The institutional investor owns 1,403 shares of the information technology services provider’s stock after acquiring an additional 45 shares during the period. NorthCrest Asset Manangement LLC’s holdings in ServiceNow were valued at $ 781,000 in its most recent SEC filing.
Some other hedge funds and other institutional investors have also bought and sold shares of NOW. Gyon Technologies Capital Management LP strengthened its position in ServiceNow by 118.6% in the third quarter. Gyon Technologies Capital Management LP now owns 1,224 shares of the information technology services provider’s stock worth $ 762,000 after buying an additional 664 shares during the period. Moors & Cabot Inc. bought a new stake in ServiceNow in the third quarter worth approximately $ 214,000. Spence Asset Management strengthened its position in ServiceNow by 5.0% in the fourth quarter. Spence Asset Management now owns 31,826 shares of the information technology services provider’s stock worth $ 20,659,000 after purchasing an additional 1,508 shares during the period. Future Financial Wealth Managment LLC bought a new stake in ServiceNow in the fourth quarter worth approximately $ 98,000. Finally, Private Trust Co. THAT was its position on ServiceNow by 3.6% in the fourth quarter. The Private Trust Co. NA now owns 1,788 shares of the information technology services provider’s stock worth $ 1,161,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.
Many analysts have released stock reports. TheStreet downgraded ServiceNow shares from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Oppenheimer lowered their target price on ServiceNow shares from $ 660.00 to $ 600.00 in a report on Thursday, April 28th. Wells Fargo & Company assumed coverage on parts of ServiceNow in a report on Wednesday, May 18th. They set an “overweight” rating and a $ 600.00 target price for the company. Credit Suisse Group lowered their target price on ServiceNow shares from $ 800.00 to $ 700.00 in a report on Thursday, April 28th. Finally, Piper Sandler lowered their target price on ServiceNow shares from $ 650.00 to $ 600.00 and set an “overweight” rating for the company in a 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $ 640.70.
In related news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $ 556.81, for a total value of $ 3,674,946.00. Following the sale, the director now owns 707 shares in the company, valued at $ 393,664.67. The sale was disclosed in a filing with the Securities & Exchange Commission, available on the SEC website. Also, CFO Gina Mastantuono sold 193 shares of the company’s stock in a transaction that took place on Tuesday, April 12th. The stock was sold at an average price of $ 525.00, for a total transaction of $ 101,325.00. Following the completion of the sale, the chief financial officer now owns 4,011 shares in the company, valued at approximately $ 2,105,775. The disclosure for this sale can be found here. Insiders have sold 17,770 shares of the company’s stock worth $ 8,999,332 over the past 90 days. 0.28% of the stock is currently owned by corporate insiders.
NYSE: NOW opened at $ 473.44 on Wednesday. The company’s 50-day moving average price is $ 463.97 and its 200-day moving average price is $ 531.69. 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 stock has a market cap of $ 94.91 billion, a price-to-earnings ratio of 430.40, a PEG ratio of 10.22 and a beta of 1.09.
ServiceNow (NYSE: NOW-Get Rating) last posted 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. 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 analysts ’expectations of $ 1.70 billion. In the same quarter last year, the company posted $ 0.50 earnings per share. Business revenue for the quarter 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.
About ServiceNow (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.
Featured Stories
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filing and insider trade for ServiceNow, Inc. (NYSE: NOW – Get Rating).
Receive News and Ratings for ServiceNow Daily -Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for ServiceNow and related companies with a FREE daily email newsletter of MarketBeat.com.
.