Exchange Traded Concepts LLC raised its stake in shares of ServiceNow, Inc. (NYSE: NOW – Get Rating) by 30.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owns 2,032 shares of the information technology services provider’s stock after buying an additional 480 shares during the period. Exchange Traded Concepts LLC’s holdings in ServiceNow were worth $ 1,132,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Chilton Capital Management LLC bought a new stake in ServiceNow in the 4th quarter worth $ 25,000. AHL Investment Management Inc. acquired a new position in ServiceNow in the 4th quarter worth $ 35,000. Lee Financial Co increased its holdings in ServiceNow by 671.4% in the 4th quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 35,000 after buying an additional 47 shares in the last quarter. Delos Wealth Advisors LLC acquired a new position in ServiceNow in the 4th quarter valued at $ 40,000. Finally, NuWave Investment Management LLC acquired a new position in ServiceNow in the 1st quarter worth $ 52,000. Institutional investors own 87.20% of the company’s stock.
A number of research analysts have commented on the NOW shares. Deutsche Bank Aktiengesellschaft reduced their price target on ServiceNow from $ 700.00 to $ 680.00 in a report on Thursday, April 28th. Citigroup raised their price target on ServiceNow from $ 623.00 to $ 656.00 in a report on Thursday, April 28th. Credit Suisse Group reduced their target price on ServiceNow from $ 800.00 to $ 700.00 in a report on Thursday, April 28th. TheStreet downgraded ServiceNow from a “b-” rating to a “c+” rating in a report on Tuesday, April 26th. Finally, Barclays reduced their price target on ServiceNow from $ 652.00 to $ 613.00 in a report on Thursday, April 28th. Two investment analysts rated the stock with a sell rating, two assigned a hold rating and twenty-five assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $ 640.70.
ServiceNow stock opened at $ 494.15 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $ 99.06 billion, a PE ratio of 449.23, a P/E/G ratio of 10.00 and a beta of 1.03. ServiceNow, Inc. has a 12 -month low of $ 406.47 and a 12 -month high of $ 707.60. The stock has a 50-day moving average price of $ 465.12 and a two-hundred day moving average price of $ 522.91.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 earnings per share (EPS) for the quarter, ahead of analysts ’consensus estimates of $ 0.34 of $ 0.13. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $ 1.72 billion in the quarter, compared to the consolidated $ 1.70 billion. In the same period last year, the company earned $ 0.50 revenue per share. The company’s revenue rose 26.6% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 1.73 earnings per share for the current financial year.
In other ServiceNow news, Director Teresa Briggs sold 932 shares of ServiceNow stock in a transaction that took place on Friday, April 29th. The stock was sold at an average price of $ 490.26, for a total value of $ 456,922.32. Following the completion of the sale, the director now directly owns 707 shares in the company, valued at $ 346,613.82. The sale was disclosed in a filing with the SEC, available on the SEC website. Also, CFO Gina Mastantuono sold 193 shares of ServiceNow stock in a transaction that took place on Tuesday, April 12th. The stock was sold at an average price of $ 525.00, for a total value of $ 101,325.00. Following the completion of the sale, the chief financial officer now owns 4,011 shares of the company’s stock, valued at $ 2,105,775. The disclosure for this sale can be found here. Insiders have sold 11,170 shares of the company’s stock worth $ 5,324,386 over the past 90 days. 0.28% of the stock is owned by corporate insiders.
ServiceNow Company Profile (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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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