Powered by Symphony Financial Ltd. co. its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,263 shares of the information technology services provider’s stock after acquiring an additional 56 shares during the period. The holdings of Symphony Financial Ltd. co. in ServiceNow were worth $601,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raised by Vanguard Group Inc. its position in ServiceNow by 1.9% during the first quarter. The Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock valued at $9,074,862,000 after acquiring an additional 306,106 shares during the last quarter. Raised by BlackRock Inc. its position in ServiceNow by 0.4% during the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $10,509,544,000 after acquiring an additional 65,623 shares during the last quarter. Polen Capital Management LLC raised its position in ServiceNow by 2.1% during the first quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock valued at $1,792,963,000 after acquiring an additional 67,385 shares during the last quarter. Capital International Investors raised its position in ServiceNow by 18.1% in the first quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after acquiring an additional 491,835 shares during the last quarter. Finally, Sands Capital Management LLC raised its position in ServiceNow by 3.3% in the first quarter. Sands Capital Management LLC now owns 2,735,070 shares of the information technology services provider’s stock valued at $1,523,133,000 after acquiring an additional 87,874 shares during the last quarter. Institutional investors and hedge funds own 87.49% of the company’s stock.
Wall Street Analysts’ Growth Forecast
NOW has been the subject of several analyst reports. Royal Bank of Canada cut their price objective on shares of ServiceNow from $670.00 to $610.00 in a research report on Monday, July 18th. Morgan Stanley cut their price objective 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 cut their price objective on shares of ServiceNow from $595.00 to $520.00 in a research report on Friday, July 15th. Guggenheim initiated coverage on shares of ServiceNow in a research report on Friday, August 12th. They issued a “neutral” rating and a $510.00 price objective for the company. Finally, Piper Sandler cut their price objective 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $593.29.
ServiceNow Price Performance
Shares of NOW stock opened at $370.10 on Tuesday. The company has a market capitalization of $74.76 billion, a PE ratio of 406.70, a price-to-earnings-growth ratio of 7.67 and a beta of 0.94. The company has a fifty-day simple moving average of $452.63 and a 200-day simple moving average of $476.37. 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, Inc. has a twelve month low of $367.71 and a twelve month high of $707.60.
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 the consensus estimate of $0.12 by $0.08. The business had revenue of $1.75 billion in the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share. Equities research analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Internal Activity
In other news, General Counsel Russell S. Elmer sold 2,666 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $422.80, for a total value of $1,127,184.80. Following the completion of the transaction, the general counsel now directly owns 6,627 shares in the company, valued at $2,801,895.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Russell S. Elmer sold 2,666 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $422.80, for a total value of $1,127,184.80. Following the sale, the general counsel now directly owns 6,627 shares of the company’s stock, valued at $2,801,895.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 130 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $502.81, for a total transaction of $65,365.30. Following the completion of the sale, the insider now directly owns 2,157 shares in the company, valued at $1,084,561.17. 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 currently owned by company insiders.
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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