Commonwealth Equity Services LLC increased its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,345 shares of the information technology services provider’s stock after buying an additional 1,819 shares during the period. Commonwealth Equity Services LLC’s holdings in ServiceNow were worth $16,332,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Raised by Vanguard Group Inc. its stake in ServiceNow by 1.9% in the first quarter. The Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock valued at $9,074,862,000 after buying an additional 306,106 shares in the last quarter. Raised by BlackRock Inc. its stake in 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. Polen Capital Management LLC raised its stake in shares of ServiceNow by 2.1% in the first quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock valued at $1,792,963,000 after buying an additional 67,385 shares during the last quarter. Capital International Investors raised its stake in shares of ServiceNow by 18.1% in the first quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after buying an additional 491,835 shares during the last quarter. Finally, Sands Capital Management LLC grew its stake in shares of ServiceNow by 3.3% in the first quarter. Sands Capital Management LLC now owns 2,735,070 shares of the information technology services provider’s stock valued at $1,523,133,000 after buying an additional 87,874 shares during the last quarter. 87.49% of the stock is owned by institutional investors.
ServiceNow Trading was down 2.0%
Shares of ServiceNow stock opened at $377.61 on Friday. The company’s fifty-day simple moving average is $447.25 and its 200-day simple moving average is $472.86. The stock has a market capitalization of $76.28 billion, a PE ratio of 414.96, a P/E/G ratio of 7.85 and a beta of 0.94. 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.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data 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 the consensus estimate of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s revenue rose 24.3% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. As a group, equities analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current year.
Wall Street Analysts weigh in
NOW has been the subject of several analyst reports. Sanford C. Bernstein began coverage on shares of ServiceNow in a research note on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price for the company. Truist Financial reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. KeyCorp reduced their price target on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Moffett Nathanson initiated coverage on shares of ServiceNow in a research note on Thursday, September 22nd. They set a “hold” rating and a $553.00 target price for the company. Finally, Guggenheim initiated coverage on shares of ServiceNow in a report on Friday, August 12th. They set a “neutral” rating and a $510.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $593.29.
Insider Buying and Selling at ServiceNow
In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Thursday, July 7th. The shares were 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 of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Frederic B. Luddy sold 6,600 shares of the business’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the sale, the director now owns 33,600 shares in the company, valued at approximately $16,699,536. The transaction was disclosed in a document filed with the SEC, which is available on the SEC website. Also, General Counsel Russell S. Elmer sold 2,666 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the completion of the sale, the general counsel now owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,922 shares of company stock valued at $15,146,557. Insiders own 0.28% of the company’s stock.
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.
Further Reading
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