Advisory Services Network LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 68.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,318 shares of the information technology services provider’s stock after acquiring an additional 4,182 shares during the period. Advisory Services Network LLC’s holdings in ServiceNow were worth $5,746,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. SevenOneSeven Capital Management raised its holdings in ServiceNow by 3.0% in the 4th quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock valued at $403,000 after buying an additional 18 shares in the last quarter. The Means Investment CO. Inc. raised its holdings in ServiceNow by 0.6% in the 4th quarter. The Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock valued at $1,845,000 after purchasing an additional 18 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in ServiceNow by 1.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock valued at $854,000 after buying an additional 18 shares in the last quarter. Financial Architects Inc raised its holdings in ServiceNow by 5.9% in the 1st quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after purchasing an additional 21 shares during the last quarter. Finally, Equitable Holdings Inc. raised its holdings in ServiceNow by 4.1% in the 4th quarter. Equitable Holdings Inc. now owns 565 shares of the information technology services provider’s stock valued at $367,000 after buying an additional 22 shares in the last quarter. 87.49% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
NOW has been the subject of several research analyst reports. Canaccord Genuity Group decreased their price objective on ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Barclays cut their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Jefferies Financial Group cut their price target on ServiceNow from $700.00 to $550.00 in a research note on Monday, May 23rd. Guggenheim started coverage on ServiceNow in a research note on Friday, August 12th. They set a “neutral” rating and a $510.00 target price for the company. Finally, BMO Capital Markets cut their price target on ServiceNow from $595.00 to $520.00 in a research note on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $598.84.
ServiceNow Stock Up 1.1 %
NYSE NOW opened at $457.49 on Thursday. The stock’s 50-day moving average is $461.00 and its 200-day moving average is $485.63. 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 12 month low of $406.47 and a 12 month high of $707.60. The stock has a market cap of $92.41 billion, a PE ratio of 502.74, a P/E/G ratio of 9.21 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the company earned $0.38 EPS. The company’s revenue increased by 24.3% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
Insiders Place Their Bets
In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, CFO Gina Mastantuono sold 4,262 shares of ServiceNow stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $439.10, for a total value of $1,871,444.20. Following the completion of the sale, the chief financial officer now directly owns 4,262 shares in the company, valued at approximately $1,871,444.20. The disclosure for this sale can be found here. Insiders sold a total of 30,256 shares of company stock worth $14,019,372 in the last quarter. 0.28% of the stock is currently 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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