Jmac Enterprises LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 430 shares of the information technology services provider’s stock, valued at approximately $204,000.
A number of other large investors have also modified their holdings of NOW. Chilton Capital Management LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new stake in shares of ServiceNow during the first quarter valued at about $28,000. High Net Worth Advisory Group LLC bought a new position in ServiceNow in the first quarter valued at approximately $29,000. GoalVest Advisory LLC bought a new position in ServiceNow in the first quarter valued at approximately $43,000. Finally, Core Alternative Capital lifted its stake in ServiceNow by 310.5% in the first 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. Hedge funds and other institutional investors own 87.49% of the company’s stock.
ServiceNow Stock Performance
Shares of NOW stock opened at $420.58 on Thursday. 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 52 week low of $367.71 and a 52 week high of $707.60. The stock has a market capitalization of $84.96 billion, a PE ratio of 462.18, a P/E/G ratio of 8.36 and a beta of 0.98. The company has a 50-day moving average of $445.50 and a two-hundred-day moving average of $469.35.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating 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 in the quarter, compared to analysts’ expectations of $1.76 billion. In the same quarter last year, the company posted $0.38 EPS. The company’s revenue increased by 24.3% compared to the same quarter last year. On average, research analysts predict that ServiceNow, Inc. will post 1.73 EPS for the current fiscal year.
Wall Street Analysts’ Growth Forecast
NOW has been the subject of several recent research reports. Royal Bank of Canada reduced their price objective on shares of ServiceNow from $670.00 to $610.00 in a research note on Monday, July 18th. Citigroup reduced their price objective on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. BMO Capital Markets decreased their price objective on shares of ServiceNow from $595.00 to $520.00 in a research note on Friday, July 15th. Truist Financial reduced their price target on ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Finally, Sanford C. Bernstein assumed coverage on ServiceNow in a research report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $593.29.
Internal Activity
In other news, insider Paul John Smith sold 130 shares of the firm’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 directly owns 2,157 shares in the company, valued at approximately $1,084,561.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $465.86, for a total value of $3,074,676.00. Following the transaction, the director now directly owns 33,000 shares in the company, valued at $15,373,380. The transaction was disclosed in a document filed with the SEC, which is available on the SEC website. Also, insider Paul John Smith sold 130 shares of ServiceNow 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 $1,084,561.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,322 shares of company stock valued at $11,866,291. 0.28% of the stock is currently owned by corporate insiders.
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.
Further Reading
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