CCLA Investment Management Ltd increased its holdings in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,566 shares of the information technology services provider’s stock after purchasing an additional 5,242 shares during the quarter. CCLA Investment Management Ltd’s holdings in ServiceNow were worth $41,016,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC bought a new position in ServiceNow in the 4th quarter valued at $25,000. AHL Investment Management Inc. bought a new stake in ServiceNow in the 4th quarter valued at $35,000. Lee Financial Co grew its holdings in ServiceNow by 671.4% in the 4th quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 47 shares during the last quarter. Delos Wealth Advisors LLC bought a new stake in ServiceNow in the 4th quarter valued at $40,000. Finally, NuWave Investment Management LLC purchased a new stake in ServiceNow in the 1st quarter valued at $52,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.
Insiders Place Their Bets
In other news, insider Paul John Smith sold 412 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $427.17, for a total transaction of $175,994.04. Following the completion of the transaction, the insider now directly owns 1,755 shares of the company’s stock, valued at $749,683.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Teresa Briggs sold 932 shares of the business’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $490.26, for a total transaction of $456,922.32. Following the completion of the transaction, the director now directly owns 707 shares of the company’s stock, valued at $346,613.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 412 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $427.17, for a total transaction of $175,994.04. Following the transaction, the insider now directly owns 1,755 shares of the company’s stock, valued at $749,683.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,577 shares of company stock valued at $8,503,327. Insiders own 0.28% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on NOW shares. Stifel Nicolaus cut their price target on shares of ServiceNow from $650.00 to $550.00 in a report on Wednesday, May 25th. TheStreet lowered shares of ServiceNow from a “b-” rating to a “c+” rating in a report on Tuesday, April 26th. Citigroup cut their price target on shares of ServiceNow from $656.00 to $600.00 in a report on Thursday, July 21st. StockNews.com started coverage on shares of ServiceNow in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Mizuho cut their price target on shares of ServiceNow from $550.00 to $520.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-eight have given a buy rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $623.19.
ServiceNow Stock Up 6.1 %
Shares of ServiceNow stock opened at $448.60 on Thursday. 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 stock has a market capitalization of $89.93 billion, a PE ratio of 407.82, a price-to-earnings-growth ratio of 8.94 and a beta of 1.03. ServiceNow, Inc. has a 52-week low of $406.47 and a 52-week high of $707.60. The company has a 50-day simple moving average of $463.15 and a two-hundred-day simple moving average of $507.76.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.09. The business had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. Business revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. On average, analysts expect that ServiceNow, Inc. will post 1.71 EPS for the current fiscal year.
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.
Further Reading
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