AE Wealth Management LLC reduced its stake in the shares of ServiceNow, Inc. (NYSE: NOW-Get Rating) by 15.0% in the 1st quarter, according to its most recent filing of Form 13F with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.
Some other institutional investors have recently increased or decreased their stakes in the business. Cavalier Investments LLC raised its stake in ServiceNow by 0.7% in the fourth quarter. Cavalier Investments LLC now owns 2,475 shares of the information technology services provider’s stock worth $ 1,607,000 after acquiring an additional 18 shares in the last quarter. SevenOneSeven Capital Management raised its stake in shares of ServiceNow by 3.0% in the fourth quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock worth $ 403,000 after buying an additional 18 shares in the last quarter. Means Investment CO. Inc. raised its stake in ServiceNow shares by 0.6% in the fourth quarter. Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock worth $ 1,845,000 after buying an additional 18 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of ServiceNow by 1.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock worth $ 854,000 after buying an additional 18 shares in the last quarter. Finally, Equitable Holdings Inc. raised its stake in ServiceNow shares by 4.1% in the fourth quarter. Equitable Holdings Inc. now owns 565 shares of the information technology services provider’s stock worth $ 367,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
NYSE: NOW opened at $ 475.52 on Friday. 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 stock has a market capitalization of $ 95.32 billion, a PE ratio of 432.29, a price-to-earnings-growth ratio of 10.22 and a beta of 1.09. The 50-day simple moving average of the business is $ 463.10 and its 200-day simple moving average is $ 530.07.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 revenue per share for the quarter, beating the consensus $ 0.34 by $ 0.13. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The business had revenue of $ 1.72 billion for the quarter, compared to analysts ’expectations of $ 1.70 billion. In the same quarter last year, the business posted $ 0.50 EPS. ServiceNow’s revenue for the quarter rose 26.6% on a year-over-year basis. On average, research analysts expect ServiceNow, Inc. will post 1.73 earnings per share for the current year.
In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction that occurred 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 sale, the director now owns 707 shares of the company’s stock, valued at approximately $ 393,664.67. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, insider Lara Caimi sold 726 shares of ServiceNow stock in a transaction that took place on Tuesday, May 31st. The shares were sold at an average price of $ 474.48, for a total value of $ 344,472.48. Following the completion of the sale, the insider now directly owns 99 shares in the company, valued at approximately $ 46,973.52. 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. 0.28% of the stock is owned by insiders.
NOW has been the subject of several research reports. Mizuho lowered their target price on ServiceNow from $ 650.00 to $ 550.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. StockNews.com began coverage on ServiceNow in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lowered their target price on ServiceNow from $ 700.00 to $ 680.00 in a research note on Thursday, April 28th. Stifel Nicolaus lowered their target price on ServiceNow from $ 650.00 to $ 550.00 in a research note on Wednesday, May 25th. Finally, UBS Group reduced their target price on ServiceNow to $ 570.00 in a report on Wednesday, May 25th. Two investment analysts rated the stock with a sell rating, two gave a hold rating and twenty-five gave a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $ 640.70.
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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