Financial Sense Advisors Inc. has acquired a new stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 610 shares of the information technology services provider’s stock, valued at approximately $290,000.
Other hedge funds have also recently bought and sold shares of the company. Chilton Capital Management LLC acquired a new stake in ServiceNow in the 4th quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new stake in shares of ServiceNow during the 1st quarter valued at $28,000. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at $29,000. Delos Wealth Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at $40,000. Finally, GoalVest Advisory LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 87.49% of the company’s stock.
ServiceNow Stock Drops 2.6%
NOW stock opened at $377.04 on Friday. The company has a market cap of $76.16 billion, a P/E ratio of 414.33, a P/E/G ratio of 7.67 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $374.36 and a 52 week high of $707.60. The company’s 50-day moving average price is $453.76 and its 200-day moving average price is $477.77. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly 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. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. In the same quarter last year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Changes in Analyst Ratings
A number of equities research analysts have recently weighed in on NOW shares. Moffett Nathanson began coverage on shares of ServiceNow in a research report on Thursday. They issued a “hold” rating and a $553.00 target price for the company. UBS Group reduced their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Morgan Stanley reduced their price target on shares of ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. BMO Capital Markets reduced their price target on shares of ServiceNow from $595.00 to $520.00 in a research report on Friday, July 15th. Finally, Barclays reduced their price target on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $593.29.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 4,262 shares of the company’s 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 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. Insiders sold 32,922 shares of company stock worth $15,146,557 in the last quarter. Corporate insiders own 0.28% of the company’s stock.
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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