Keudell Morrison Wealth Management lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 8.3% during the second quarter, Holdings Channel reports. The institutional investor owned 730 shares of the information technology services provider’s stock after selling 66 shares during the period. Keudell Morrison Wealth Management’s holdings in ServiceNow were worth $347,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. The Vanguard Group Inc. raised its position in shares of ServiceNow by 1.9% in 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 buying an additional 306,106 shares in the last quarter. BlackRock Inc.’s position grew. in ServiceNow by 0.4% in the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock valued at $10,509,544,000 after buying an additional 65,623 shares during the period. Polen Capital Management LLC grew its position in ServiceNow by 2.1% during the 1st 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 purchasing an additional 67,385 shares during the period. Capital International Investors boosted its stake in shares of ServiceNow by 18.1% during the 1st 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 grew its stake in shares of ServiceNow by 3.3% in the 1st 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. Hedge funds and other institutional investors own 87.49% of the company’s stock.
Wall Street Analysts weigh in
A number of research analysts recently weighed in on the stock. KeyCorp reduced their price target on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. Credit Suisse Group cut their price target on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Royal Bank of Canada cut their price target on shares of ServiceNow from $670.00 to $610.00 in a report on Monday, July 18th. Guggenheim assumed coverage on shares of ServiceNow in a report on Friday, August 12th. They issued a “neutral” rating and a $510.00 target price for the company. Finally, Sanford C. Bernstein assumed coverage on shares of ServiceNow in a report on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 target price for the company. Two equities research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $593.29.
ServiceNow Price Performance
NOW opened at $370.10 on Tuesday. 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 market cap of $74.76 billion, a price-to-earnings ratio of 406.70, a PEG ratio of 7.67 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $367.71 and a twelve month high of $707.60. 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 released its quarterly 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. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the business earned $0.38 EPS. Business revenue increased 24.3% on a year-over-year basis. Equities research analysts expect ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $438.75, for a total transaction of $1,238,152.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Nicholas Tzitzon sold 2,822 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $438.75, for a total value of $1,238,152.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lara Caimi sold 977 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $514.96, for a total transaction of $503,115.92. Following the completion of the transaction, the insider now owns 43 shares in the company, valued at $22,143.28. The disclosure for this sale can be found here. Insiders have sold 32,922 shares of company stock valued at $15,146,557 over the last ninety days. 0.28% of the stock is owned by 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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