Removed by B. Riley Wealth Management Inc. its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 614 shares of the information technology services provider’s stock after purchasing an additional 27 shares during the quarter. The holdings of B. Riley Wealth Management Inc. in ServiceNow were worth $342,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in NOW. Chilton Capital Management LLC purchased a new stake in shares of ServiceNow during the fourth quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new position in ServiceNow during the 1st quarter valued at about $28,000. Lee Financial Co grew its holdings in ServiceNow by 671.4% during the 4th quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. Delos Wealth Advisors LLC purchased a new position in ServiceNow during the 4th quarter valued at approximately $40,000. Finally, GoalVest Advisory LLC purchased a new position in ServiceNow in the 1st quarter valued at approximately $43,000. Institutional investors own 87.20% of the company’s stock.
Analysts Set New Price Targets
NOW has been the subject of several recent research reports. Piper Sandler dropped their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Morgan Stanley dropped their price target on ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Stifel Nicolaus dropped their target price on ServiceNow from $650.00 to $550.00 in a report on Wednesday, May 25th. Royal Bank of Canada dropped their price target on ServiceNow from $670.00 to $610.00 in a report on Monday, July 18th. Finally, Truist Financial reduced their price target on ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $598.84.
Insider Buying and Selling at ServiceNow
In other news, General Counsel Russell S. Elmer sold 4,812 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $438.99, for a total value of $2,112,419.88. Following the sale, the general counsel now owns 9,293 shares in the company, valued at $4,079,534.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Russell S. Elmer sold 4,812 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $438.99, for a total value of $2,112,419.88. Following the sale, the general counsel now owns 9,293 shares in the company, valued at $4,079,534.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the company’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $477.52, for a total value of $3,342,640.00. Following the completion of the sale, the chief operating officer now owns 38,980 shares in the company, valued at approximately $18,613,729.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,427 shares of company stock worth $16,189,898. 0.28% of the stock is currently owned by insiders.
ServiceNow Stock Drops 2.7%
ServiceNow stock opened at $476.26 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day simple moving average is $467.79 and its two-hundred-day simple moving average is $500.32. The company has a market cap of $96.20 billion, a PE ratio of 523.36, a PEG ratio of 9.69 and a beta of 0.94. ServiceNow, Inc. has a fifty-two week low of $406.47 and a fifty-two week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. In the same quarter last year, the business earned $0.38 EPS. Equities analysts expect ServiceNow, Inc. will post 1.72 EPS for the current year.
ServiceNow profile
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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers 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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