Chicago Partners Investment Group LLC raised its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 62.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 804 shares of the information technology services provider’s stock after purchasing an additional 309 shares during the period. Chicago Partners Investment Group LLC’s holdings in ServiceNow were worth $331,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SevenOneSeven Capital Management boosted its holdings in ServiceNow by 3.0% during the fourth quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock valued at $403,000 after buying an additional 18 shares in the last quarter. The Means Investment CO. Inc. boosted its holdings in ServiceNow by 0.6% during the fourth quarter. The Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock valued at $1,845,000 after buying an additional 18 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of ServiceNow by 1.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock valued at $854,000 after buying an additional 18 shares in the last quarter. Financial Architects Inc lifted its holdings in shares of ServiceNow by 5.9% in the first quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after buying an additional 21 shares in the last quarter. Finally, Equitable Holdings Inc. its holdings in shares of ServiceNow by 4.1% in the fourth quarter. Equitable Holdings Inc. now owns 565 shares of the information technology services provider’s stock valued at $367,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 87.49% of the company’s stock.
Changes in Analyst Ratings
NOW has been the subject of several recent research reports. UBS Group decreased their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Credit Suisse Group cut their price objective on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Cowen cut 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. Canaccord Genuity Group cut their price objective on shares of ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, Royal Bank of Canada cut their price objective on shares of ServiceNow from $670.00 to $610.00 in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, the stock 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, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $438.75, for a total transaction of $1,238,152.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $438.75, for a total transaction of $1,238,152.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lara Caimi sold 977 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $514.96, for a total transaction of $503,115.92. Following the sale, the insider now directly owns 43 shares in the company, valued at $22,143.28. The disclosure for this sale can be found here. Insiders sold 30,256 shares of company stock valued at $14,019,372 over the last ninety days. 0.28% of the stock is owned by insiders.
ServiceNow Price Performance
Shares of NOW stock opened at $435.55 on Friday. The company has a market capitalization of $87.98 billion, a PE ratio of 478.63, a price-to-earnings-growth ratio of 9.21 and a beta of 0.94. The company has a fifty-day simple moving average of $460.28 and a 200-day simple moving average of $485.43. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow, Inc. has a twelve month low of $406.47 and a twelve month high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company posted $0.38 EPS. The company’s revenue increased by 24.3% compared to the same quarter last year. Equities research analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
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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