Allworth Financial LP has expanded its stake in ServiceNow, Inc. (NYSE: NOW – Get Rating) by 29.5% in the 1st quarter, according to its latest disclosure to the Securities and Exchange Commission. The institutional investor owns 281 shares of the information technology services provider’s stock after acquiring an additional 64 shares in the quarter. Allworth Financial LP’s holdings in ServiceNow were worth $ 156,000 at the end of the most recent quarter.
Other institutional investors have recently increased or decreased their stakes in the company. Chilton Capital Management LLC bought a new stake in ServiceNow in the fourth quarter worth $ 25,000. AHL Investment Management Inc. bought a new stake in ServiceNow in the fourth quarter worth $ 35,000. Lee Financial Co boosted its holdings in ServiceNow by 671.4% in the fourth quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 35,000 after acquiring an additional 47 shares in the last quarter. Delos Wealth Advisors LLC bought a new stake in ServiceNow in the fourth quarter worth $ 40,000. Finally, NuWave Investment Management LLC bought a new position in shares of ServiceNow in the first quarter worth $ 52,000. 87.20% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently released reports on NOW shares. Credit Suisse Group lowered their price target on ServiceNow from $ 800.00 to $ 700.00 in a report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft lowered their price target on ServiceNow from $ 700.00 to $ 680.00 in a report on Thursday, April 28th. Exane BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating in a report on Tuesday, March 29th. Morgan Stanley lowered their target price on ServiceNow to $ 594.00 and set an “already” rating on the stock in a report on Wednesday, May 18th. Finally, BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price on the stock. in a report on Tuesday, March 29th. Two research analysts rated the stock with a sell rating, two assigned a hold rating and twenty-five gave a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $ 640.70.
In other news, CFO Gina Mastantuono sold 193 shares of the company’s stock in a transaction that took place on Tuesday, April 12th. The stock was sold at an average price of $ 525.00, for a total value of $ 101,325.00. Following the completion of the sale, the chief financial officer now directly owns 4,011 shares of the company’s stock, valued at approximately $ 2,105,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, available through the SEC website. Also, Director Frederic B. Luddy sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $ 501.92, for a total value of $ 354,857.44. Following the completion of the sale, the director now directly owns 660 shares of the company’s stock, valued at $ 331,267.20. The disclosure for this sale can be found here. In the past three months, insiders have sold 11,170 shares of the company’s stock worth $ 5,324,386. 0.28% of the stock is owned by corporate insiders.
The NYSE NOW opened at $ 494.15 on Friday. The business has a 50-day moving average price of $ 465.12 and a 200-day moving average price of $ 523.79. ServiceNow, Inc. has a twelve -month low of $ 406.47 and a twelve -month high of $ 707.60. The company has a market cap of $ 99.06 billion, a price-to-earnings ratio of 449.23, a price-to-earnings-growth ratio of 10.06 and a beta of 1.03. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37.
ServiceNow (NYSE: NOW-Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 EPS for the quarter, beating analysts ’consensus estimates of $ 0.34 by $ 0.13. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $ 1.72 billion in the quarter, compared to analyst estimates of $ 1.70 billion. In the same period last year, the company earned $ 0.50 revenue per share. The company’s revenue rose 26.6% on a year-on-year basis. Research analysts expect ServiceNow, Inc. will post 1.73 EPS for the current financial year.
About ServiceNow (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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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