Posted by First Horizon Advisors Inc. its holdings in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 55.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 356 shares of the information technology services provider’s stock after selling 450 shares during the quarter. The holdings of First Horizon Advisors Inc. in ServiceNow were worth $198,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Norges Bank acquired a new position in shares of ServiceNow during the 4th quarter valued at $1,117,096,000. Raised by TD Asset Management Inc. its stake in shares of ServiceNow by 84.7% during the 4th quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock valued at $783,606,000 after buying an additional 553,517 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of ServiceNow by 57.9% during the 1st 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 purchasing an additional 518,349 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of ServiceNow by 11.7% during the 4th quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock worth $1,898,748,000 after buying an additional 305,908 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of ServiceNow by 3.2% during the 4th quarter. State Street Corp now owns 7,870,165 shares of the information technology services provider’s stock valued at $5,108,603,000 after purchasing an additional 241,296 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
Wall Street Analysts weigh in
NOW has been the subject of several research reports. Mizuho cut their price target on ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Cowen cut their price target on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Sanford C. Bernstein assumed coverage on shares of ServiceNow in a research note on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 target price for the company. JMP Securities cut their price target on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a research note on Thursday, July 28th. Finally, Truist Financial cut their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $598.84.
ServiceNow Stock Performance
Shares of NOW opened at $488.76 on Thursday. The business’s 50-day moving average is $467.78 and its two-hundred-day moving average is $502.73. ServiceNow, Inc. has a 52-week low of $406.47 and a 52-week high of $707.60. The company has a market cap of $98.73 billion, a price-to-earnings ratio of 537.10, a PEG ratio of 10.23 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow has 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 posted $0.38 EPS. ServiceNow’s quarterly revenue was up 24.3% on a year-over-year basis. Analysts predict that ServiceNow, Inc. will post 1.73 EPS for the current fiscal year.
Insider Buying and Selling at ServiceNow
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 stock was sold at an average price of $438.75, for a total transaction of $1,238,152.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $438.75, for a total transaction of $1,238,152.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 4,812 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $438.99, for a total value of $2,112,419.88. Following the sale, the general counsel now directly owns 9,293 shares in the company, valued at $4,079,534.07. The disclosure for this sale can be found here. Insiders have sold a total of 33,258 shares of company stock valued at $15,622,745 in the last three months. Corporate insiders own 0.28% of the company’s stock.
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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