Cut by Equitable Trust Co. its position with ServiceNow, Inc. (NYSE:NOW – Get Rating) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,196 shares of the information technology services provider’s stock after selling 174 shares during the quarter. The holdings of Equitable Trust Co. in ServiceNow were worth $4,373,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Powered by Avantax Planning Partners Inc. its position in shares of ServiceNow by 50.5% in the second quarter. Avantax Planning Partners Inc. now owns 1,643 shares of the information technology services provider’s stock valued at $781,000 after acquiring an additional 551 shares during the period. Veriti Management LLC lifted its stake in ServiceNow by 2.0% in the 2nd quarter. Veriti Management LLC now owns 3,148 shares of the information technology services provider’s stock valued at $1,497,000 after buying an additional 63 shares in the last quarter. Financial Sense Advisors Inc. bought a new stake in ServiceNow in the 2nd quarter valued at approximately $290,000. Wealth Advisors of Tampa Bay LLC grew its position in shares of ServiceNow by 36.6% during the 2nd quarter. Wealth Advisors of Tampa Bay LLC now owns 3,730 shares of the information technology services provider’s stock valued at $1,774,000 after buying an additional 1,000 shares during the last quarter. Finally, Bell Bank boosted its holdings in shares of ServiceNow by 13.5% in the second quarter. Bell Bank now owns 2,817 shares of the information technology services provider’s stock valued at $1,340,000 after buying an additional 334 shares during the period. 87.49% of the stock is owned by institutional investors and hedge funds.
ServiceNow Price Performance
Shares of NYSE NOW opened at $377.04 on Monday. The company has a market capitalization of $76.16 billion, a PE ratio of 414.33, a P/E/G ratio of 7.67 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow, Inc. has a twelve month low of $374.36 and a twelve month high of $707.60. The firm has a fifty day simple moving average of $453.76 and a 200 day simple moving average of $477.37.
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, topping analysts’ consensus estimates of $0.12 by $0.08. The firm had revenue of $1.75 billion in the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business’s revenue increased by 24.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current year.
Insiders Place Their Bets
In other news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction that occurred on 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 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 SEC, accessible via this link. In other 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 transaction of $3,280,266.00. Following the transaction, the director now owns 33,600 shares in the company, valued at $16,699,536. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $438.75, for a total transaction of $1,238,152.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,922 shares of company stock valued at $15,146,557. 0.28% of the stock is owned by corporate insiders.
Changes in Analyst Ratings
NOW has been the subject of several recent research reports. Cowen cut their price target on ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Canaccord Genuity Group cut their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Moffett Nathanson began coverage on ServiceNow in a research report on Thursday. They issued a “hold” rating and a $553.00 target price on the stock. Credit Suisse Group cut their price objective 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. Finally, Barclays reduced their price objective 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $593.29.
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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