Capital Investment Advisory Services LLC divested its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 840 shares of the information technology services provider’s stock after acquiring an additional 31 shares during the period. Capital Investment Advisory Services LLC’s holdings in ServiceNow were worth $399,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Chilton Capital Management LLC purchased a new stake in shares of ServiceNow during the fourth quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new stake in shares of ServiceNow during the first quarter valued at about $28,000. High Net Worth Advisory Group LLC bought a new stake in shares of ServiceNow in the first quarter valued at approximately $29,000. San Luis Wealth Advisors LLC purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $49,000. Finally, GoalVest Advisory LLC purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $43,000. 87.49% of the stock is owned by institutional investors.
ServiceNow Stock Performance
NYSE NOW opened at $411.55 on Wednesday. ServiceNow, Inc. has a 1 year low of $367.71 and a 1 year high of $707.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $83.13 billion, a PE ratio of 452.25, a P/E/G ratio of 7.96 and a beta of 0.98. The company’s 50-day simple moving average is $446.06 and its two-hundred-day simple moving average is $469.69.
ServiceNow (NYSE:NOW – Get Rating) last posted its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business 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 posted $0.38 EPS. Business revenue for the quarter was up 24.3% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 1.73 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, General Counsel Russell S. Elmer sold 2,666 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $422.80, for a total value of $1,127,184.80. Following the transaction, the general counsel now owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available through this link. In other news, General Counsel Russell S. Elmer sold 2,666 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $422.80, for a total value of $1,127,184.80. Following the transaction, the general counsel now owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available through this link. Also, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The disclosure for this sale can be found here. Insiders have sold 32,922 shares of company stock valued at $15,146,557 over the last three months. 0.28% of the stock is currently owned by corporate insiders.
Wall Street Analysts weigh in
NOW has been the subject of several recent analyst reports. Moffett Nathanson initiated coverage on shares of ServiceNow in a research report on Thursday, September 22nd. They issued a “hold” rating and a $553.00 price objective for the company. Guggenheim started coverage on shares of ServiceNow in a research report on Friday, August 12th. They issued a “neutral” rating and a $510.00 price objective for the company. Barclays decreased their price objective on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Cowen reduced their price objective on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Finally, Sanford C. Bernstein initiated coverage on shares of ServiceNow in a research report on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $593.29.
About ServiceNow
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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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