Raised by DA Davidson & CO. its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 14.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC ). The institutional investor owned 5,187 shares of the information technology services provider’s stock after purchasing an additional 658 shares during the period. The holdings of DA Davidson & CO. in ServiceNow were worth $2,889,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of NOW. Edgewood Management LLC purchased a new position in ServiceNow during the first quarter valued at approximately $1,515,281,000. Norges Bank purchased a new position in ServiceNow during the fourth quarter valued at approximately $1,117,096,000. Raised by TD Asset Management Inc. its holdings in ServiceNow by 84.7% in the fourth quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock valued at $783,606,000 after buying an additional 553,517 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in ServiceNow by 57.9% during the first quarter. Fisher Asset Management LLC now owns 1,413,079 shares of the information technology services provider’s stock valued at $786,930,000 after buying an additional 518,349 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of 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. 87.49% of the stock is currently owned by institutional investors.
ServiceNow Stock Drops 0.9%
Shares of NOW opened at $430.56 on Friday. The company has a market capitalization of $86.97 billion, a P/E ratio of 473.14, a PEG ratio of 8.87 and a beta of 0.94. 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, Inc. had a one-year low of $406.47 and a one-year high of $707.60. The business’s 50-day simple moving average is $468.08 and its 200-day simple moving average is $493.68.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. ServiceNow’s revenue was up 24.3% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
ServiceNow Insider Transactions
In other news, 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Nicholas Tzitzon sold 2,822 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $438.75, for a total value of $1,238,152.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC website. Also, Director Frederic B. Luddy sold 707 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $501.92, for a total transaction of $354,857.44. Following the completion of the transaction, the director now owns 660 shares of the company’s stock, valued at approximately $331,267.20. The disclosure for this sale can be found here. Insiders have sold 30,963 shares of company stock valued at $14,374,230 over the last three months. 0.28% of the stock is owned by corporate insiders.
Wall Street Analysts’ Growth Forecast
A number of equities analysts recently commented on NOW shares. JMP Securities dropped their price objective on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 28th. Jefferies Financial Group dropped their price objective on ServiceNow from $700.00 to $550.00 in a research note on Monday, May 23rd. Mizuho dropped their price objective on ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Morgan Stanley dropped their price objective on ServiceNow from $594.00 to $575.00 and set a an “overweight” rating on the stock in a research note on Thursday, July 14th. Finally, Wells Fargo & Company lowered their price objective on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.84.
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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