Beaumont Asset Management LLC has raised its stake in ServiceNow, Inc. (NYSE: NOW-Get Rating) by 0.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The company owns 5,821 shares of the information technology services provider’s stock after buying an additional 29 shares during the period. ServiceNow constitutes 2.2% of the holdings of Beaumont Asset Management LLC, making the stock the 9th largest holding. Beaumont Asset Management LLC’s holdings in ServiceNow were valued at $ 3,242,000 in its most recent filing with the SEC.
Some other hedge funds have recently changed their holdings NOW. Norges Bank bought a new position in ServiceNow in the fourth quarter worth approximately $ 1,117,096,000. Allspring Global Investments Holdings LLC bought a new position in ServiceNow in the fourth quarter worth approximately $ 400,884,000. Fisher Asset Management LLC boosted its stake in shares of ServiceNow by 164.8% in the fourth quarter. Fisher Asset Management LLC now owns 894,730 shares of the information technology services provider’s stock worth $ 580,778,000 after buying an additional 556,871 shares in the last quarter. Powered by TD Asset Management Inc. its stake in ServiceNow shares was 84.7% in the fourth quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock worth $ 783,606,000 after buying an additional 553,517 shares in the last quarter. Finally, Brown Advisory Inc. expanded. its stake in ServiceNow shares of 16.6% in the fourth quarter. Brown Advisory Inc. now owns 2,480,958 shares of the information technology services provider’s stock worth $ 1,610,414,000 after buying an additional 352,766 shares in the last quarter. Institutional investors own 87.20% of the company’s stock.
ServiceNow Stock Performance
NYSE: NOW traded down $ 3.71 during trading on Monday, reaching $ 431.91. The company’s stock has a trading volume of 32,067 shares, compared to its average volume of 1,811,601. The company has a market cap of $ 86.58 billion, a price-to-earnings ratio of 396.02, a price-to-earnings-growth ratio of 8.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50-day moving average of $ 461.23 and a 200-day moving average of $ 515.32. ServiceNow, Inc. has a 12 -month low of $ 406.47 and a 12 -month high of $ 707.60.
ServiceNow (NYSE: NOW-Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 earnings per share (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 the agreed $ 1.70 billion. In the same quarter last year, the company earned $ 0.50 EPS. Business revenue for the quarter rose 26.6% on a year-over-year basis. Research analysts expect ServiceNow, Inc. will post 1.71 EPS for the current financial year.
Internal Activity
In related news, Director Teresa Briggs sold 932 shares of the stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $ 490.26, for a total transaction of $ 456,922.32. Following the sale, the director now owns 707 shares of the company’s stock, valued at approximately $ 346,613.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible through the SEC website. In related news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction that took place on Thursday, July 7th. The stock was sold at an average price of $ 497.01, for a total transaction of $ 3,280,266.00. Following the transaction, the director now directly owns 33,600 shares in the company, valued at approximately $ 16,699,536. The transaction was disclosed in a filing with the SEC, available via this hyperlink. Also, Director Teresa Briggs sold 932 shares of the company’s stock in a transaction that took place on Friday, April 29th. The stock was sold at an average price of $ 490.26, for a total value of $ 456,922.32. Following the transaction, the director now owns 707 shares in the company, valued at $ 346,613.82. The disclosure for this sale can be found here. Insiders have sold 17,577 shares of the company’s stock worth $ 8,503,327 over the past 90 days. Insiders own 0.28% of the company’s stock.
Weigh by Wall Street Analyst
Some brokerages have commented recently on NOW. Barclays cut their price target on ServiceNow from $ 613.00 to $ 560.00 and set an “overweight” rating on the stock in a research note on Monday. TheStreet downgraded ServiceNow from a “b-” rating to a “c+” rating in a research note on Tuesday, April 26th. Cowen cut their target price on ServiceNow from $ 725.00 to $ 695.00 in a research note on Thursday, April 28th. Jefferies Financial Group cut their price target on ServiceNow from $ 700.00 to $ 550.00 in a research note on Monday, May 23rd. Finally, BMO Capital Markets cut their price target on ServiceNow from $ 595.00 to $ 520.00 in a research note on Friday. Two investment analysts rated the stock with a sell rating, two gave a hold rating and twenty-six gave a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $ 635.63.
ServiceNow profile
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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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