GraniteShares Advisors LLC reduced its holdings in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 9.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 820 shares of the information technology services provider’s stock after selling 86 shares during the period. GraniteShares Advisors LLC’s holdings in ServiceNow were worth $389,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in shares of ServiceNow during the fourth quarter valued at $25,000. OLD Second National Bank of Aurora purchased a new stake in shares of ServiceNow during the first quarter valued at about $28,000. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $29,000. GoalVest Advisory LLC purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $43,000. Finally, Core Alternative Capital grew its position in ServiceNow by 310.5% in the 1st quarter. Core Alternative Capital now owns 78 shares of the information technology services provider’s stock valued at $43,000 after purchasing an additional 59 shares during the period. Institutional investors own 87.49% of the company’s stock.
ServiceNow Stock Performance
ServiceNow stock opened at $391.71 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $79.13 billion, a PE ratio of 430.45, a P/E/G ratio of 7.68 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $367.71 and a 12 month high of $707.60. The company has a fifty day moving average price of $446.28 and a two hundred day moving average price of $470.88.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company earned $0.38 earnings per share. ServiceNow’s revenue was up 24.3% compared to the same quarter last year. Research analysts expect that ServiceNow, Inc. will post 1.72 earnings per share for the current year.
Wall Street Analysts’ Growth Forecast
NOW has been the subject of several recent research reports. Moffett Nathanson initiated coverage on shares of ServiceNow in a research report on Thursday, September 22nd. They set a “hold” rating and a $553.00 price objective for the company. Credit Suisse Group reduced their price target on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Barclays dropped their target price on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. UBS Group dropped their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, Sanford C. Bernstein began coverage on shares of ServiceNow in a research report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price for the company. Two equities 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, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $593.29.
Internal Activity
In related news, Director Frederic B. Luddy sold 6,600 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Gina Mastantuono sold 4,262 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $439.10, for a total transaction of $1,871,444.20. Following the sale, the chief financial officer now directly owns 4,262 shares in the company, valued at $1,871,444.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC’s website. Also, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on 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 $16,699,536. The disclosure for this sale can be found here. Insiders sold a total of 32,922 shares of company stock valued at $15,146,557 over the last three months. 0.28% of the stock is owned by insiders.
ServiceNow Company 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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