Marshall Wace LLP has lifted its position on the components of ServiceNow, Inc. (NYSE: NOW) by 1,194.5% in the 3rd quarter, Holdings Channel.com reports. The fund owns 10,511 shares of the information technology services provider’s stock after buying an additional 9,699 shares in the quarter. Marshall Wace LLP’s holdings in ServiceNow were valued at $ 6,541,000 in its most recent SEC filing.
Several other institutional investors and hedge funds have recently made changes to their stock positions. Halbert Hargrove Global Advisors LLC increased its position in ServiceNow shares by 3.9% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 431 shares of the information technology services provider’s stock worth $ 268,000 after acquiring an additional 16 shares in the last quarter. Newfound Research LLC raised its position in ServiceNow shares by 22.7% in the third quarter. Newfound Research LLC now owns 92 shares of the information technology services provider’s stock worth $ 57,000 after acquiring an additional 17 shares in the last quarter. Farmers & Merchants Investments Pvt. raised its position in ServiceNow shares by 15.7% in the third quarter. Farmers & Merchants Investments Pvt. now owns 133 shares of the information technology services provider’s stock worth $ 83,000 after acquiring an additional 18 shares in the last quarter. Spearhead Capital Advisors LLC raised its position on shares of ServiceNow by 2.1% in the third quarter. Spearhead Capital Advisors LLC now owns 861 shares of the information technology services provider’s stock worth $ 536,000 after acquiring an additional 18 shares in the last quarter. Finally, Nwam LLC increased its position in ServiceNow shares by 4.5% in the third quarter. Nwam LLC now owns 415 shares of the information technology services provider’s stock worth $ 258,000 after acquiring an additional 18 shares in the last quarter. 86.14% of the stock is owned by institutional investors.
Several brokerages have weighed in recently on NOW. Credit Suisse Group reduced their target price on ServiceNow shares from $ 850.00 to $ 800.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. raised their target price on shares of ServiceNow from $ 650.00 to $ 715.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. Deutsche Bank Aktiengesellschaft cut their target price on ServiceNow shares from $ 820.00 to $ 700.00 and set a “buy” rating for the company in a research report on Friday, January 21st. Robert W. Baird cut their target price on ServiceNow shares from $ 650.00 to $ 600.00 in a research report on Thursday, January 27th. Finally, Argus raised their target price on shares of ServiceNow from $ 760.00 to $ 805.00 and gave the stock a “buy” rating in a research report on Tuesday, November 2nd. Two research analysts rated the stock with a hold rating and twenty-eight gave the company a buy rating. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Buy” and an average price target of $ 694.07.
In other ServiceNow news, Director Frederic B. Luddy sold 1,355 shares of business stock in a transaction on Tuesday, Dec. 7th. The shares were sold at an average price of $ 657.40, for a total value of $ 890,777.00. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Also, Director Frederic B. Luddy sold 15,000 shares of business stock in a transaction on Wednesday, January 12th. The stock was sold at an average price of $ 577.36, for a total transaction of $ 8,660,400.00. The disclosure for this sale can be found here. Over the past 90 days, insiders have sold 32,392 shares of the company’s stock worth $ 18,756,532. 0.35% of the stock is owned by corporate insiders.
NOW opened at $ 565.75 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.05. ServiceNow, Inc. has a fifty -two -week low of $ 448.27 and a fifty -two -week high of $ 707.60. The firm’s fifty day moving average is $ 587.22 and its 200 day moving average is $ 624.53. The stock has a market cap of $ 113.15 billion, a price-to-earnings ratio of 496.28, a price-to-earnings-growth ratio of 10.36 and a beta of 1.01.
ServiceNow (NYSE: NOW) last released its earnings results on Wednesday, January 26th. The information technology service provider reported $ 1.46 revenue per share for the quarter, beating analysts ’consensus estimates of $ 1.43 by $ 0.03. ServiceNow has a net margin of 3.90% and a return on equity of 9.43%. In the same quarter last year, the business posted $ 0.16 EPS. On average, equities research analysts predict that ServiceNow, Inc. will post 1.93 earnings per share for the current year.
ServiceNow profile
ServiceNow, Inc. is engaged in providing enterprise cloud computing solutions. The company delivers digital workflows on an enterprise cloud platform called Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products. .
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