Family Management Corp cut its position in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 90.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 627 shares of the information technology services provider’s stock after selling 5,647 shares during the quarter. Family Management Corp’s holdings in ServiceNow were worth $349,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. SevenOneSeven Capital Management raised its stake in ServiceNow by 3.0% during the 4th quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock valued at $403,000 after buying an additional 18 shares in the last quarter. Raised by Means Investment CO. Inc. its position in shares of ServiceNow by 0.6% during the fourth quarter. The Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock valued at $1,845,000 after purchasing an additional 18 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of ServiceNow by 1.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock valued at $854,000 after purchasing an additional 18 shares during the period. Financial Architects Inc grew its position in ServiceNow by 5.9% during the first quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after purchasing an additional 21 shares during the last quarter. Finally, Equitable Holdings Inc. raised its stake in ServiceNow by 4.1% during the fourth quarter. Equitable Holdings Inc. now owns 565 shares of the information technology services provider’s stock valued at $367,000 after acquiring an additional 22 shares during the period. 87.49% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Insider Transactions
In related news, insider Lara Caimi sold 977 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $514.96, for a total amount of $503,115.92. Following the sale, the insider now directly owns 43 shares in the company, valued at approximately $22,143.28. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value 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 $16,699,536. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, insider Lara Caimi sold 977 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $514.96, for a total value of $503,115.92. Following the completion of the sale, the insider now owns 43 shares of the company’s stock, valued at $22,143.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,256 shares of company stock valued at $14,019,372. 0.28% of the stock is currently owned by company insiders.
ServiceNow Price Performance
Shares of NOW stock opened at $476.29 on Tuesday. The company’s 50 day moving average price is $462.03 and its two hundred day moving average price is $486.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52-week low of $406.47 and a 52-week high of $707.60. The stock has a market cap of $96.21 billion, a PE ratio of 523.40, a PEG ratio of 9.57 and a beta of 0.94.
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 (EPS) for the quarter, topping 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 had a return on equity of 7.22% and a net margin of 2.79%. The company’s revenue rose 24.3% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. As a group, analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages recently commented on NOW. JMP Securities reduced their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a research report on Thursday, July 28th. Sanford C. Bernstein began coverage on shares of ServiceNow in a research report on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 target price for the company. Wells Fargo & Company reduced their price objective on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Jefferies Financial Group dropped their price target on ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. Finally, UBS Group lowered their price target on ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $598.84.
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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