HB Wealth Management LLC lifted its position in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 82.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 935 shares of the information technology services provider’s stock after purchasing an additional 422 shares during the quarter. HB Wealth Management LLC’s holdings in ServiceNow were worth $445,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Hancock Whitney Corp boosted its stake in shares of ServiceNow by 3.3% in the first quarter. Hancock Whitney Corp now owns 1,977 shares of the information technology services provider’s stock valued at $1,101,000 after purchasing an additional 64 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in shares of ServiceNow in the first quarter valued at about $996,000. Brookstone Capital Management boosted its stake in shares of ServiceNow by 5.1% in the second quarter. Brookstone Capital Management now owns 1,690 shares of the information technology services provider’s stock valued at $835,000 after buying an additional 82 shares during the last quarter. Exane Derivatives boosted its stake in shares of ServiceNow by 7.0% in the first quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock worth $806,000 after buying an additional 95 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of ServiceNow by 50.2% in the second quarter. Allworth Financial LP now owns 422 shares of the information technology services provider’s stock valued at $201,000 after buying an additional 141 shares during 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, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the sale, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Gina Mastantuono sold 4,262 shares of ServiceNow stock in a transaction 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 transaction, the chief financial officer now directly owns 4,262 shares in the company, valued at approximately $1,871,444.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 6,600 shares of ServiceNow 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 transaction, 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 32,922 shares of company stock worth $15,146,557 in the last quarter. Corporate insiders own 0.28% of the company’s stock.
Wall Street Analysts’ Growth Forecast
A number of research firms have recently issued reports on NOW. Truist Financial dropped their price target on ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Credit Suisse Group dropped their price objective on ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. KeyCorp dropped their price objective on ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Wells Fargo & Company dropped their price objective on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Finally, Morgan Stanley lowered their price objective on ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $593.29.
ServiceNow Stock Drops 2.6%
Shares of ServiceNow stock opened at $377.04 on Monday. The business’s fifty day moving average price is $453.76 and its two hundred day moving average price is $477.37. 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 capitalization of $76.16 billion, a P/E ratio of 414.33, a PEG ratio of 7.67 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $374.36 and a 1-year high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. The company 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%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. In the same quarter last year, the business earned $0.38 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current year.
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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