Argent Trust Co reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,963 shares of the information technology services provider’s stock after selling 119 shares during the quarter. Argent Trust Co’s holdings in ServiceNow were worth $1,094,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc.’s position grew. in shares of ServiceNow by 0.4% during the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock valued at $10,509,544,000 after buying an additional 65,623 shares in the last quarter. State Street Corp lifted its position in shares of 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 valued at $5,108,603,000 after purchasing an additional 241,296 shares during the period. Geode Capital Management LLC boosted its stake in shares of ServiceNow by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 3,082,765 shares of the information technology services provider’s stock valued at $1,995,048,000 after purchasing an additional 106,519 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in ServiceNow by 11.7% during the fourth quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock valued at $1,898,748,000 after purchasing an additional 305,908 shares during the period. Finally, Massachusetts Financial Services Co. raised. MA increased its stake in ServiceNow by 1.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,780,154 shares of the information technology services provider’s stock valued at $991,349,000 after purchasing an additional 27,842 shares during the last quarter. Institutional investors own 87.20% of the company’s stock.
Insider Buying and Selling at ServiceNow
In other news, insider Nicholas Tzitzon sold 2,822 shares of ServiceNow stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $438.75, for a total value of $1,238,152.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Paul John Smith sold 411 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $482.95, for a total transaction of $198,492.45. Following the transaction, the insider now directly owns 2,467 shares in the company, valued at $1,191,437.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $438.75, for a total transaction of $1,238,152.50. The disclosure for this sale can be found here. Insiders sold 34,427 shares of company stock worth $16,189,898 during the last quarter. 0.28% of the stock is currently owned by insiders.
ServiceNow Price Performance
ServiceNow stock opened at $459.99 on Wednesday. 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 company’s fifty day moving average price is $468.48 and its 200 day moving average price is $499.21. The stock has a market capitalization of $92.92 billion, a P/E ratio of 505.48, a P/E/G ratio of 9.36 and a beta of 0.94. ServiceNow, Inc. has a 1 year low of $406.47 and a 1 year high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) 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 analyst estimates of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. As a group, equities research analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have recently commented on NOW shares. Guggenheim started coverage on ServiceNow in a research report on Friday, August 12th. They issued a “neutral” rating and a $510.00 target price for the company. TheStreet lowered shares of ServiceNow from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Stifel Nicolaus cut their price objective on shares of ServiceNow from $650.00 to $550.00 in a research report on Wednesday, May 25th. Jefferies Financial Group decreased their price target on shares of ServiceNow from $700.00 to $550.00 in a research report on Monday, May 23rd. Finally, Wells Fargo & Company reduced their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Two 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 company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $598.84.
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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