Hohimer Wealth Management LLC reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 23.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,800 shares of the information technology services provider’s stock after selling 551 shares during the quarter. Hohimer Wealth Management LLC’s holdings in ServiceNow were worth $856,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. Chilton Capital Management LLC purchased a new position in ServiceNow during the 4th quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new position in ServiceNow during the 1st quarter valued at about $28,000. High Net Worth Advisory Group LLC purchased a new position in ServiceNow during the 1st quarter valued at approximately $29,000. GoalVest Advisory LLC purchased a new position in ServiceNow during the 1st quarter valued at approximately $43,000. Finally, Core Alternative Capital increased its holdings in ServiceNow by 310.5% in the 1st quarter. Core Alternative Capital now owns 78 shares of the information technology services provider’s stock valued at $43,000 after buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 87.49% of the company’s stock.
Insider Buying and Selling
In related news, insider Paul John Smith sold 130 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $502.81, for a total value of $65,365.30. Following the sale, the insider now owns 2,157 shares of the company’s stock, valued at $1,084,561.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In related news, General Counsel Russell S. Elmer sold 178 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $502.00, for a total value of $89,356.00. Following the transaction, the general counsel now owns 9,293 shares in the company, valued at $4,665,086. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul John Smith sold 130 shares of the business’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 transaction, the insider now owns 2,157 shares in the company, valued at approximately $1,084,561.17. The disclosure for this sale can be found here. Insiders have sold a total of 32,922 shares of company stock valued at $15,146,557 over the last 90 days. 0.28% of the stock is owned by insiders.
Analysts Set New Price Targets
Several brokerages have recently weighed in on NOW. Mizuho decreased their price objective on ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Piper Sandler reduced their price objective on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Citigroup reduced their price objective on ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Royal Bank of Canada reduced their price objective on ServiceNow from $670.00 to $610.00 in a report on Monday, July 18th. Finally, Barclays decreased their price objective on ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $593.29.
ServiceNow Stock Performance
NYSE NOW opened at $411.55 on Wednesday. The company’s fifty day moving average price is $446.06 and its two hundred day moving average price is $469.69. The stock has a market cap of $83.13 billion, a PE ratio of 452.25, a PEG ratio of 7.96 and a beta of 0.98. ServiceNow, Inc. has a fifty-two week low of $367.71 and a fifty-two week high of $707.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping 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 analysts’ expectations of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. ServiceNow’s revenue for the quarter was up 24.3% on a year-over-year basis. On average, equities analysts expect that ServiceNow, Inc. will post 1.73 EPS for the current fiscal year.
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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