Guardian Capital LP trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 36.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,384 shares of the information technology services provider’s stock after selling 811 shares during the period. Guardian Capital LP’s holdings in ServiceNow were worth $771,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new position in ServiceNow in the 4th quarter valued at approximately $25,000. OLD Second National Bank of Aurora acquired a new position in ServiceNow in the 1st quarter valued at approximately $28,000. High Net Worth Advisory Group LLC acquired a new position in ServiceNow in the 1st quarter valued at approximately $29,000. Delos Wealth Advisors LLC acquired a new position in ServiceNow in the 4th quarter valued at approximately $40,000. Finally, San Luis Wealth Advisors LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $49,000. Institutional investors and hedge funds own 87.49% of the company’s stock.
ServiceNow Insider Activity
In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the transaction, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC website. In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the transaction, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC website. Also, Director Lawrence Jackson sold 707 shares of ServiceNow stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $446.40, for a total transaction of $315,604.80. Following the transaction, the director now directly owns 660 shares of the company’s stock, valued at $294,624. The disclosure for this sale can be found here. Insiders sold 30,256 shares of company stock valued at $14,019,372 over the last ninety days. Insiders own 0.28% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on NOW shares. Piper Sandler cut their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. UBS Group cut their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Mizuho cut their price target on shares of ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Morgan Stanley cut their price target on shares of ServiceNow from $594.00 to $575.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Finally, Cowen cut their price target on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Two 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.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $598.84.
ServiceNow Price Performance
Shares of ServiceNow stock opened at $476.29 on Tuesday. 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 50-day simple moving average is $462.03 and its 200-day simple moving average is $486.60. ServiceNow, Inc. has a twelve month low of $406.47 and a twelve month high of $707.60. The company has a market cap of $96.21 billion, a P/E ratio of 523.40, a price-to-earnings-growth ratio of 9.57 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last released its 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. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the business earned $0.38 EPS. The company’s revenue rose 24.3% on a year-over-year basis. As a group, research analysts expect ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
ServiceNow Company 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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