AdvisorNet Financial Inc. has expanded its position on the components of ServiceNow, Inc. (NYSE: NOW – Get Rating) by 419.2% in the first quarter, according to the company in its most recent disclosure to the Securities & Exchange Commission. The fund owns 379 shares of the information technology services provider’s stock after buying an additional 306 shares in the quarter. AdvisorNet Financial Inc’s holdings in ServiceNow were valued at $ 211,000 in its most recent filing with the Securities & Exchange Commission.
Several other large investors have bought and sold shares of the company recently. Chesley Taft & Associates LLC bought a new stake in shares of ServiceNow in the first quarter worth approximately $ 425,000. Caliber Wealth Management LLC increased its holdings in ServiceNow shares by 8.5% in the first quarter. Caliber Wealth Management LLC now owns 4,417 shares of the information technology services provider’s stock worth $ 2,460,000 after buying an additional 345 shares last quarter. Gofen & Glossberg LLC IL increased its holdings in ServiceNow shares by 3.4% in the first quarter. Gofen & Glossberg LLC IL now owns 30,319 shares of the information technology services provider’s stock worth $ 16,884,000 after buying an additional 999 shares last quarter. Expanded by Dock Street Asset Management Inc. its holdings in ServiceNow shares of 466.8% in the first quarter. Dock Street Asset Management Inc. now owns 7,266 shares of the information technology services provider’s stock worth $ 4,046,000 after buying an additional 5,984 shares last quarter. Finally, Gateway Investment Advisers LLC increased its holdings in ServiceNow shares by 2.6% in the first quarter. Gateway Investment Advisers LLC now owns 70,418 shares of the information technology services provider’s stock worth $ 39,215,000 after buying an additional 1,761 shares last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
A number of research analysts have recently weighed in on the shares of NOW. KeyCorp lowered their price target on ServiceNow shares from $ 692.00 to $ 613.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Credit Suisse Group reduced their target price on ServiceNow shares from $ 800.00 to $ 700.00 in a research report on Thursday, April 28th. Cowen reduced their target price on ServiceNow shares from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. Wells Fargo & Company assumed coverage on the components of ServiceNow in a research report on Wednesday, May 18th. They released an “overweight” rating and a $ 600.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on ServiceNow shares from $ 700.00 to $ 680.00 in a research report on Thursday, April 28th. Two equities research analysts rated the stock with a sell rating, two assigned a hold rating and twenty-five gave a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $ 640.70.
NYSE: NOW shares opened at $ 477.79 on Thursday. ServiceNow, Inc. has a 52 -week low of $ 406.47 and a 52 -week high of $ 707.60. The stock has a market capitalization of $ 95.78 billion, a P/E ratio of 434.35, a PEG ratio of 10.22 and a beta of 1.09. The firm has a fifty-day simple moving average of $ 463.42 and a two-hundred-day simple moving average of $ 531.32. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 EPS for the quarter, ahead of analysts ’consensus estimates of $ 0.34 of $ 0.13. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The business had revenue of $ 1.72 billion in the quarter, compared to analysts ’expectations of $ 1.70 billion. In the same period last year, the company posted $ 0.50 EPS. Business revenue rose 26.6% on a year-on-year basis. On average, analysts expect ServiceNow, Inc. will post 1.73 earnings per share for the current year.
In other news, Director Frederic B. Luddy sold 707 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $ 501.92, for a total value of $ 354,857.44. Following the completion of the sale, the director now owns 660 shares in the company, valued at approximately $ 331,267.20. The transaction is disclosed in a document filed with the Securities & Exchange Commission, available via this hyperlink. Also, CFO Gina Mastantuono sold 193 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $ 2,105,775. The disclosure for this sale can be found here. Insiders have sold a total of 17,770 shares of the company’s stock worth $ 8,999,332 over the past three months. Corporate insiders own 0.28% of the company’s stock.
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.
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