Atria Wealth Solutions Inc bought a new position. in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 11,424 shares of the information technology services provider’s stock, valued at approximately $6,362,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Chilton Capital Management LLC acquired a new position in ServiceNow in the 4th quarter valued at $25,000. OLD Second National Bank of Aurora purchased a new position in ServiceNow during the first quarter valued at about $28,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow in the 1st quarter valued at approximately $29,000. Delos Wealth Advisors LLC bought a new stake in ServiceNow in the 4th quarter valued at approximately $40,000. Finally, GoalVest Advisory LLC acquired a new position in shares of ServiceNow during the 1st quarter valued at approximately $43,000. 87.49% of the stock is currently owned by hedge funds and other institutional investors.
ServiceNow Insider Transactions
In related news, CFO Gina Mastantuono sold 4,262 shares of the stock in a transaction dated Monday, August 29. The shares were sold at an average price of $439.10, for a total transaction worth $1,871,444.20. Following the sale, the chief financial officer now owns 4,262 shares in the company, valued at $1,871,444.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 shares were sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the completion of the transaction, the general counsel now owns 9,293 shares in the company, valued at $4,079,534.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 4,262 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $439.10, for a total transaction of $1,871,444.20. Following the completion of the sale, the chief financial officer now directly owns 4,262 shares in the company, valued at approximately $1,871,444.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,256 shares of company stock valued at $14,019,372. 0.28% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. BMO Capital Markets dropped their price target on shares of ServiceNow from $595.00 to $520.00 in a research report on Friday, July 15th. Barclays reduced their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock 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 research note on Thursday, July 14th. Mizuho decreased their price objective on ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Finally, Credit Suisse Group dropped their price target on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $598.84.
ServiceNow Stock Up 4.3 %
NYSE:NOW opened at $470.03 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 company has a market capitalization of $94.95 billion, a price-to-earnings ratio of 516.52, a price-to-earnings-growth ratio of 9.57 and a beta of 0.94. ServiceNow, Inc. had a one-year low of $406.47 and a one-year high of $707.60. The stock has a 50-day simple moving average of $462.03 and a 200-day simple moving average of $486.60.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business had revenue of $1.75 billion in the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the business earned $0.38 EPS. The business’s quarterly revenue was up 24.3% on a year-over-year basis. sell-side analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
About ServiceNow
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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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