Reduced by Benjamin F. Edwards & Company Inc. its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 27.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 367 shares of the information technology services provider’s stock after selling 140 shares during the period. The holdings of Benjamin F. Edwards & Company Inc. in ServiceNow were worth $204,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC bought a new position in ServiceNow in the fourth quarter valued at approximately $25,000. AHL Investment Management Inc. purchased a new position in shares of ServiceNow during the 4th quarter valued at approximately $35,000. Lee Financial Co increased its stake in shares of ServiceNow by 671.4% during the 4th quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. Delos Wealth Advisors LLC purchased a new position in shares of ServiceNow during the 4th quarter valued at approximately $40,000. Finally, GoalVest Advisory LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $43,000. 87.20% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Trading Up 2.3 %
NYSE:NOW opened at $446.66 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average is $463.62 and its two-hundred-day moving average is $505.43. ServiceNow, Inc. has a 52 week low of $406.47 and a 52 week high of $707.60. The company has a market cap of $89.54 billion, a PE ratio of 406.05, a P/E/G ratio of 8.94 and a beta of 1.03.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. 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 EPS. ServiceNow’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 1.71 EPS for the current year.
Wall Street Analysts weigh in
NOW has been the subject of several recent research reports. Stifel Nicolaus dropped their price objective on shares of ServiceNow from $550.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday. Truist Financial dropped their price objective on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday. Oppenheimer reduced their price target on shares of ServiceNow from $600.00 to $505.00 and set a “hold” rating on the stock in a research report on Thursday. Cowen reduced their price target on shares of ServiceNow from $590.00 to $580.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $589.90.
Insider Buying and Selling
In related news, COO Chirantan Jitendra Desai sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $477.52, for a total value of $3,342,640.00. Following the sale, the chief operating officer now owns 38,980 shares of the company’s stock, valued at approximately $18,613,729.60. The sale was disclosed in a document filed with the SEC, which is available on the SEC website. In related news, Director Frederic B. Luddy sold 6,600 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is available on the SEC website. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $477.52, for a total value of $3,342,640.00. Following the completion of the sale, the chief operating officer now directly owns 38,980 shares in the company, valued at approximately $18,613,729.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,150 shares of company stock valued at $7,804,261. Insiders own 0.28% of the company’s stock.
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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