APG Asset Management NV boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,187 shares of the information technology services provider’s stock after buying an additional 2,800 shares during the quarter. APG Asset Management NV’s holdings in ServiceNow were worth $17,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Hancock Whitney Corp boosted its position in ServiceNow by 3.3% in the first quarter. Hancock Whitney Corp now owns 1,977 shares of the information technology services provider’s stock valued at $1,101,000 after purchasing an additional 64 shares during the last quarter. Prospera Financial Services Inc bought a new stake in ServiceNow in the first quarter valued at approximately $996,000. Walleye Capital LLC raised its stake in ServiceNow by 54.8% in the fourth quarter. Walleye Capital LLC now owns 7,084 shares of the information technology services provider’s stock valued at $4,598,000 after buying an additional 2,507 shares during the last quarter. Exane Derivatives lifted its stake in ServiceNow by 7.0% in the first quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock valued at $806,000 after buying an additional 95 shares during the last quarter. Finally, Natixis Advisors LP lifted its stake in ServiceNow by 124.4% in the first quarter. Natixis Advisors LP now owns 183,173 shares of the information technology services provider’s stock valued at $102,007,000 after buying an additional 101,544 shares during the last quarter. Institutional investors own 87.49% of the company’s stock.
ServiceNow Stock Performance
Shares of ServiceNow stock opened at $434.51 on Tuesday. ServiceNow, Inc. had a one-year low of $406.47 and a one-year high of $707.60. The company has a market cap of $87.77 billion, a price-to-earnings ratio of 477.48, a PEG ratio of 8.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. The moving business’s 50 day moving average price is $468.08 and its 200 day moving average price is $493.68.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data 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 the consensus estimate of $1.76 billion. In the same quarter last year, the business posted $0.38 earnings per share. 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 1.72 EPS for the current year.
Wall Street Analysts’ Growth Forecast
NOW has been the subject of several research analyst reports. Credit Suisse Group reduced their price target on ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Morgan Stanley reduced their price target on ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. JMP Securities reduced their price objective on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a research note on Thursday, July 28th. 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 research note on Thursday, July 28th. Finally, Jefferies Financial Group reduced their price objective on ServiceNow from $700.00 to $550.00 in a research note on Monday, May 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $598.84.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, CFO Gina Mastantuono sold 4,262 shares of ServiceNow stock in a transaction 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 sale, the chief financial officer now owns 4,262 shares in the company, valued at $1,871,444.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 4,262 shares of ServiceNow stock in a transaction 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 sale, the chief financial officer now owns 4,262 shares in the company, valued at $1,871,444.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lara Caimi sold 977 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $514.96, for a total amount of $503,115.92. Following the completion of the sale, the insider now owns 43 shares in the company, valued at approximately $22,143.28. The disclosure for this sale can be found here. Insiders sold 30,963 shares of company stock worth $14,374,230 in the last quarter. 0.28% of the stock is currently owned by company 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.
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