Dakota Wealth Management trimmed its position in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 12.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,315 shares of the information technology services provider’s stock after selling 182 shares during the quarter. Dakota Wealth Management’s holdings in ServiceNow were worth $731,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of NOW. Raised by BlackRock Inc. its holdings in shares of ServiceNow by 0.4% during the 4th 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 boosted its holdings in 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 purchasing an additional 241,296 shares during the period. Polen Capital Management LLC boosted its stake in 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 acquiring an additional 67,385 shares during the period. Geode Capital Management LLC raised its holdings in ServiceNow by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 3,082,765 shares of the information technology services provider’s stock worth $1,995,048,000 after buying an additional 106,519 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in ServiceNow by 11.7% during the 4th 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 buying an additional 305,908 shares during the last quarter. Institutional investors own 87.49% of the company’s stock.
ServiceNow Stock Up 1.5 %
NYSE NOW opened at $450.77 on Friday. 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 1-year low of $406.47 and a 1-year high of $707.60. The company has a 50-day moving average of $462.31 and a 200-day moving average of $488.02. The company has a market cap of $91.06 billion, a price-to-earnings ratio of 495.35, a PEG ratio of 8.76 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last posted its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping 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 analysts’ expectations of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. The company’s revenue rose 24.3% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Changes in Analyst Ratings
Several equities research analysts have recently issued reports on NOW shares. Credit Suisse Group reduced their price target on ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. UBS Group reduced their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Morgan Stanley dropped their price target on shares of ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Barclays reduced their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Finally, Guggenheim initiated coverage on shares of ServiceNow in a research report on Friday, August 12th. They set a “neutral” rating and a $510.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $598.84.
ServiceNow Insider Activity
In related news, insider Lara Caimi sold 977 shares of ServiceNow stock in a transaction that occurred 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 transaction, the insider now owns 43 shares of the company’s stock, valued at $22,143.28. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the transaction, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The sale was disclosed in a filing with the Securities & Exchange Commission, available through this hyperlink. Also, insider Lara Caimi sold 977 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $514.96, for a total value of $503,115.92. Following the completion of the transaction, the insider now owns 43 shares of the company’s stock, valued at $22,143.28. The disclosure for this sale can be found here. Insiders sold a total of 30,256 shares of company stock valued at $14,019,372 in the last quarter. Company 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.
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