EFG Asset Management North America Corp. reduced. its holders in the shares of ServiceNow, Inc. (NYSE: NOW – Get Rating) by 22.8% in the first quarter, HoldingsChannel reports. The fund owns 2,495 shares of the information technology services provider’s stock after selling 735 shares during the period. Holders of EFG Asset Management North America Corp. to ServiceNow was worth $ 1,391,000 in its most recent filing with the SEC.
Some other hedge funds have also made changes to their business positions. Powered by BlackRock Inc. its position in ServiceNow by 0.4% in the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $ 10,509,544,000 after acquiring an additional 65,623 shares during the period. State Street Corp strengthened its position on ServiceNow by 3.2% in the 4th quarter. State Street Corp. now owns 7,870,165 shares of the information technology services provider’s stock worth $ 5,108,603,000 after acquiring an additional 241,296 shares during the period. Geode Capital Management LLC strengthened its position in ServiceNow by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 3,082,765 shares of the information technology services provider’s stock worth $ 1,995,048,000 after acquiring an additional 106,519 shares during the period. Nuveen Asset Management LLC strengthened its position in ServiceNow by 11.7% in the 4th quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock worth $ 1,898,748,000 after acquiring an additional 305,908 shares during the period. Finally, powered by Brown Advisory Inc. its position in ServiceNow by 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 own 87.20% of the company’s stock.
In other news, Director Frederic B. Luddy sold 707 shares of the company’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $ 501.92, for a total transaction of $ 354,857.44. Following the completion of the transaction, the director now directly owns 660 shares of the company’s stock, valued at $ 331,267.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. 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 value of $ 101,325.00. Following 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. In the past three months, insiders have sold 11,170 shares of the company’s stock worth $ 5,324,386. Insiders own 0.28% of the company’s stock.
Several analysts have recently weighed in on the NOW components. StockNews.com began coverage on ServiceNow in a report on Thursday, March 31st. They issued a “hold” rating for the company. Cowen reduced their target price on ServiceNow from $ 725.00 to $ 695.00 in a report on Thursday, April 28th. Wells Fargo & Company assumed coverage on ServiceNow in a report on Wednesday, May 18th. They set an “overweight” rating and a $ 600.00 target price for the company. TheStreet downgraded ServiceNow from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Finally, BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price on the stock. in a research report on Tuesday, March 29th. Two analysts rated the stock with a sell rating, two gave a hold rating and twenty-five gave a buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $ 640.70.
NOW shares opened at $ 494.15 on Friday. The company has a market cap of $ 99.06 billion, a price-to-earnings ratio of 449.23, a PEG ratio of 10.06 and a beta of 1.03. ServiceNow, Inc. has a 52-week low of $ 406.47 and a 52-week high of $ 707.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a fifty-day moving average price of $ 465.12 and a two-hundred-day moving average price of $ 524.62.
ServiceNow (NYSE: NOW-Get Rating) last announced 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 return on equity of 8.66% and a net margin of 3.56%. 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 earned $ 0.50 profit per share. The company’s quarterly revenue rose 26.6% compared to the same quarter last year. As a group, research analysts predict that ServiceNow, Inc. will post 1.73 EPS for the current financial year.
ServiceNow 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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