Cetera Advisor Networks LLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,944 shares of the information technology services provider’s stock after selling 311 shares during the quarter. Cetera Advisor Networks LLC’s holdings in ServiceNow were worth $1,639,000 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 business. Raised by BlackRock Inc. its stake in shares of ServiceNow by 0.4% in the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock valued at $10,509,544,000 after buying an additional 65,623 shares in the last quarter. State Street Corp raised its stake in shares of ServiceNow by 3.2% in the fourth quarter. State Street Corp now owns 7,870,165 shares of the information technology services provider’s stock valued at $5,108,603,000 after buying an additional 241,296 shares during the last quarter. Geode Capital Management LLC raised its position in ServiceNow by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 3,082,765 shares of the information technology services provider’s stock valued at $1,995,048,000 after purchasing an additional 106,519 shares during the period. Nuveen Asset Management LLC raised its position in ServiceNow by 11.7% in the fourth quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock valued at $1,898,748,000 after purchasing an additional 305,908 shares during the period. Finally, Edgewood Management LLC acquired a new stake in ServiceNow during the first quarter valued at approximately $1,515,281,000. 87.49% of the stock is currently owned by institutional investors and hedge funds.
ServiceNow Trading rose 0.9%
NYSE NOW opened at $434.51 on Friday. The stock has a market capitalization of $87.77 billion, a price-to-earnings ratio of 477.48, a PEG ratio of 8.87 and a beta of 0.94. The stock’s 50 day moving average price is $468.08 and its two hundred day moving average price is $493.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52 week low of $406.47 and a 52 week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. In the same quarter last year, the business posted $0.38 EPS. As a group, analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Wall Street Analysts weigh in
A number of analysts recently commented on the company. Cowen dropped their price objective on ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Barclays dropped their price objective on ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Sanford C. Bernstein assumed coverage on ServiceNow in a research report on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 price objective for the company. BMO Capital Markets dropped their price objective on ServiceNow from $595.00 to $520.00 in a research report on Friday, July 15th. Finally, KeyCorp reduced their price target on ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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 the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $439.10, for a total transaction of $1,871,444.20. Following the transaction, the chief financial officer now owns 4,262 shares of the company’s stock, valued at approximately $1,871,444.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 4,262 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $439.10, for a total transaction of $1,871,444.20. Following the transaction, the chief financial officer now owns 4,262 shares of the company’s stock, valued at approximately $1,871,444.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 2,822 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $438.75, for a total value of $1,238,152.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,963 shares of company stock valued at $14,374,230. Corporate insiders own 0.28% of the company’s stock.
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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