Raised by Ellevest Inc. its position with ServiceNow, Inc. (NYSE:NOW – Get Rating) by 47.9% during the second quarter, HoldingsChannel reports. The fund owned 247 shares of the information technology services provider’s stock after purchasing an additional 80 shares during the quarter. The holdings of Ellevest Inc. in ServiceNow were worth $117,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in NOW. Edgewood Management LLC bought a new position in shares of ServiceNow in the first quarter valued at about $1,515,281,000. Norges Bank bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $1,117,096,000. Fisher Asset Management LLC lifted its holdings in shares of ServiceNow by 57.9% in 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. Capital International Investors lifted its holdings 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 purchasing an additional 491,835 shares during the last quarter. Finally, Vanguard Group Inc. lifted. its holdings in shares of 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. Institutional investors and hedge funds own 87.49% of the company’s stock.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, General Counsel Russell S. Elmer sold 2,666 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the completion of the transaction, the general counsel now owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 2,666 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the completion of the transaction, the general counsel now owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC website. Also, insider Lara Caimi sold 977 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $514.96, for a total value of $503,115.92. Following the transaction, the insider now owns 43 shares in the company, valued at approximately $22,143.28. The disclosure for this sale can be found here. Insiders have sold 32,922 shares of company stock valued at $15,146,557 over the last 90 days. Insiders own 0.28% of the company’s stock.
ServiceNow Trading was down 0.9%
NYSE NOW opened at $385.50 on Friday. ServiceNow, Inc. has a 1-year low of $367.71 and a 1-year high of $707.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $448.63 and a 200-day moving average of $474.33. The company has a market cap of $77.87 billion, a PE ratio of 423.63, a price-to-earnings-growth ratio of 7.71 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating ) last released its quarterly earnings results on Wednesday, July 27. The information technology services provider reported $0.20 EPS for the quarter, beating estimates of analysts’ consensus was $0.12 by $0.08. The business had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. ServiceNow’s quarterly revenue was up 24.3% compared to the same quarter last year. In the same quarter last year, the company posted $0.38 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Moffett Nathanson assumed coverage on ServiceNow in a report on Thursday, September 22nd. They issued a “hold” rating and a $553.00 target price on the stock. 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. Cowen reduced their price target on ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Wells Fargo & Company reduced their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Finally, Sanford C. Bernstein began coverage on ServiceNow in a research report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $593.29.
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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