National Bank of Canada FI raised its position in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,891 shares of the information technology services provider’s stock after purchasing an additional 143 shares during the quarter. National Bank of Canada FI’s holdings in ServiceNow were worth $7,152,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Raised by DA Davidson & CO. its position in ServiceNow by 54.5% during the 4th quarter. DA Davidson & CO. now owns 4,529 shares of the information technology services provider’s stock valued at $2,940,000 after buying an additional 1,597 shares during the last quarter. Raymond James Trust NA lifted its position in ServiceNow by 2.4% during the 4th quarter. Raymond James Trust NA now owns 3,681 shares of the information technology services provider’s stock valued at $2,390,000 after purchasing an additional 87 shares during the last quarter. Raised by Centaurus Financial Inc. its position in ServiceNow by 14.7% during the 4th quarter. Centaurus Financial Inc. now owns 1,115 shares of the information technology services provider’s stock valued at $724,000 after purchasing an additional 143 shares in the last quarter. Raised by Nomura Asset Management Co. Ltd. its position in ServiceNow by 5.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 269,701 shares of the information technology services provider’s stock valued at $175,067,000 after buying an additional 14,796 shares during the last quarter. Finally, Morningstar Investment Services LLC acquired a new position in ServiceNow during the 4th quarter valued at approximately $289,000. Institutional investors own 87.20% of the company’s stock.
ServiceNow Price Performance
NYSE NOW opened at $453.77 on Tuesday. The business has a 50 day simple moving average of $464.09 and a 200 day simple moving average of $504.78. ServiceNow, Inc. has a 52-week low of $406.47 and a 52-week high of $707.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $90.96 billion, a price-to-earnings ratio of 498.65, a PEG ratio of 9.21 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.09. The company 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 business’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. Analysts expect ServiceNow, Inc. will post 1.7 earnings per share for the current fiscal year.
Changes in Analyst Ratings
Several research analysts recently issued reports on NOW shares. Cowen reduced their price target on shares of ServiceNow from $590.00 to $580.00 and set a “hold” rating on the stock in a research report on Thursday, July 28th. Mizuho reduced their price target on shares of ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. UBS Group cut their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Jefferies Financial Group cut their price target on shares of ServiceNow from $700.00 to $550.00 in a research report on Monday, May 23rd. Finally, Cowen cut their price target on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $589.90.
ServiceNow Insider Activity
In related news, Director Frederic B. Luddy sold 707 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $501.92, for a total value of $354,857.44. Following the completion of the transaction, the director now directly owns 660 shares of the company’s stock, valued at $331,267.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available through this link. In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $446.04, for a total value of $55,755.00. Following the transaction, the insider now owns 1,446 shares in the company, valued at $644,973.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederic B. Luddy sold 707 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $501.92, for a total value of $354,857.44. Following the sale, the director now owns 660 shares in the company, valued at $331,267.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,679 shares of company stock valued at $9,358,018. 0.28% of the stock is owned by corporate insiders.
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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