Cut by JW Cole Advisors Inc. its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 15.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 918 shares of the information technology services provider’s stock after selling 166 shares during the period. The holdings of JW Cole Advisors Inc. in ServiceNow were worth $511,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Chilton Capital Management LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at $25,000. OLD Second National Bank of Aurora bought a new position in ServiceNow during the first quarter valued at $28,000. High Net Worth Advisory Group LLC bought a new position in shares of ServiceNow in the first quarter valued at approximately $29,000. Delos Wealth Advisors LLC bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $40,000. Finally, San Luis Wealth Advisors LLC bought a new position in shares of ServiceNow in the first quarter valued at about $49,000. Hedge funds and other institutional investors own 87.49% of the company’s stock.
ServiceNow Insider Activity
In related news, Director Frederic B. Luddy sold 6,600 shares of the business’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 directly owns 33,600 shares of the company’s stock, valued at $16,699,536. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Nicholas Tzitzon sold 2,822 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $438.75, for a total transaction of $1,238,152.50. The sale was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the firm’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 transaction of $3,280,266.00. Following the transaction, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The disclosure for this sale can be found here. Insiders have sold a total of 30,256 shares of company stock valued at $14,019,372 over the last ninety days. Insiders own 0.28% of the company’s stock.
ServiceNow Price Performance
ServiceNow stock opened at $425.80 on Monday. The stock has a market cap of $86.01 billion, a P/E ratio of 467.91, a price-to-earnings-growth ratio of 8.67 and a beta of 0.94. The company has a fifty-day simple moving average of $457.68 and a 200-day simple moving average of $482.70. ServiceNow, Inc. has a 12-month low of $406.47 and a 12-month 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.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, which topping the consensus estimate of $0.12 by $0.08. The business had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. Equities analysts expect ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
Changes in Analyst Ratings
A number of equities research analysts have recently issued reports on the company. Piper Sandler reduced their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Stifel Nicolaus cut their price target on ServiceNow from $650.00 to $550.00 in a research note on Wednesday, May 25th. Royal Bank of Canada cut their price target on ServiceNow from $670.00 to $610.00 in a research note on Monday, July 18th. BMO Capital Markets cut their price target on ServiceNow from $595.00 to $520.00 in a research note on Friday, July 15th. Finally, Truist Financial dropped their price target on ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $598.84.
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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