AE Wealth Management LLC reduced its position in the shares of ServiceNow, Inc. (NYSE: NOW-Get Rating) by 15.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The company owns 12,635 shares of the information technology services provider’s stock after selling 2,224 shares in the quarter. AE Wealth Management LLC’s holdings in ServiceNow were valued at $ 7,036,000 in its most recent filing with the SEC.
Several other institutional investors and hedge funds have recently made changes to their positions in the company. FirstPurpose Wealth LLC boosted its holdings in ServiceNow shares by 9.6% in the first quarter. FirstPurpose Wealth LLC now owns 687 shares of the information technology services provider’s stock worth $ 383,000 after acquiring an additional 60 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in ServiceNow shares by 6.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,277 shares of the information technology services provider’s stock worth $ 1,308,000 after acquiring an additional 146 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in ServiceNow shares by 3.3% in the first quarter. NorthCrest Asset Manangement LLC now owns 1,403 shares of the information technology services provider’s stock worth $ 781,000 after acquiring an additional 45 shares during the period. Spire Wealth Management boosted its holdings in ServiceNow shares by 450.6% in the first quarter. Spire Wealth Management now owns 25,626 shares of the information technology services provider’s stock worth $ 14,284,000 after acquiring an additional 20,972 shares during the period. Finally, PDS Planning Inc increased its holdings in ServiceNow shares by 16.8% in the first quarter. PDS Planning Inc. now owns 418 shares of the information technology services provider’s stock worth $ 233,000 after acquiring an additional 60 shares during the period. 87.20% of the stock is owned by institutional investors.
Several research companies have recently weighed in on NOW. Citigroup raised their price target on ServiceNow shares from $ 623.00 to $ 656.00 in a report on Thursday, April 28th. Morgan Stanley lowered their price target on ServiceNow shares to $ 594.00 and set an “already” rating for the company in a report on Wednesday, May 18th. Deutsche Bank Aktiengesellschaft reduced their price target on ServiceNow shares from $ 700.00 to $ 680.00 in a report on Thursday, April 28th. BMO Capital Markets lowered their price target on ServiceNow shares from $ 635.00 to $ 570.00 in a report on Wednesday, April 27th. Finally, Cowen cut their target price on ServiceNow shares from $ 725.00 to $ 695.00 in a report on Thursday, April 28th. Two investment analysts rated the stock with a sell rating, two issued a hold rating and twenty-five gave a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $ 640.70.
NOW shares opened at $ 475.52 on Friday. The company has a market capitalization of $ 95.32 billion, a price-to-earnings ratio of 432.29, a P/E/G ratio of 10.22 and a beta of 1.09. ServiceNow, Inc. has a fifty -two week low of $ 406.47 and a fifty -two week 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 50-day moving average of the business is $ 463.10 and its 200-day moving average is $ 530.07.
ServiceNow (NYSE: NOW-Get Rating) last released its earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 revenue per share for the quarter, beating analysts ’consensus estimates of $ 0.34 by $ 0.13. The company had revenue of $ 1.72 billion for the quarter, compared to the consensus estimate of $ 1.70 billion. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company’s quarterly revenue rose 26.6% on a year-over-year basis. In the same quarter last year, the company earned $ 0.50 EPS. Equities research analysts expect ServiceNow, Inc. will post 1.73 earnings per share for the current financial year.
In related news, Director Frederic B. Luddy sold 6,600 shares of stock in a transaction that took place 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 transaction, the director now owns 707 shares in the company, valued at $ 393,664.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. Also, insider Christopher Bedi sold 495 shares of stock in a transaction that took place on Friday, April 29th. The stock was sold at an average price of $ 489.18, for a total value of $ 242,144.10. Following the completion of the transaction, the insider now owns 12,977 shares in the company, valued at approximately $ 6,348,088.86. 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.
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.
See also
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).
Want More Great Investment Ideas?
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.
.