Private Advisor Group LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 0.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,434 shares of the information technology services provider’s stock after acquiring an additional 86 shares during the period. Private Advisor Group LLC’s holdings in ServiceNow were worth $4,962,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Chilton Capital Management LLC purchased a new position in shares of ServiceNow during the 4th quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $28,000. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow in the 1st quarter valued at about $29,000. Delos Wealth Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $40,000. Finally, GoalVest Advisory LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at about $43,000. 87.49% of the stock is owned by institutional investors.
Internal Activity
In other 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 sale, the director now 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 other 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 sale, the director now 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, General Counsel Russell S. Elmer sold 4,812 shares of ServiceNow 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 sale, the general counsel now directly owns 9,293 shares in the company, valued at approximately $4,079,534.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,922 shares of company stock valued at $15,146,557. Corporate insiders own 0.28% of the company’s stock.
Changes in Analyst Ratings
A number of analysts recently commented on NOW shares. Barclays dropped their target price on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. Wells Fargo & Company dropped their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Citigroup dropped their price target on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Morgan Stanley dropped their target price on shares of ServiceNow from $594.00 to $575.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. Finally, UBS Group dropped their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $593.29.
ServiceNow Price Performance
Shares of ServiceNow stock opened at $377.04 on Friday. The firm has a market cap of $76.16 billion, a PE ratio of 414.33, a price-to-earnings-growth ratio of 7.88 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $374.36 and a 12-month high of $707.60. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $453.76 and its two hundred day simple moving average is $477.77.
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 for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The company 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. In the same quarter last year, the company posted $0.38 EPS. As a group, equities analysts expect ServiceNow, Inc. will post 1.72 EPS for the current 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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