The New York State Teachers Retirement System has expanded its holdings in shares of ServiceNow, Inc. (NYSE: NOW-Get Rating) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owns 225,414 shares of the information technology services provider’s stock after buying an additional 316 shares in the quarter. The New York State Teachers Retirement System’s holdings in ServiceNow were valued at $ 125,531,000 in its most recent SEC filing.
Other institutional investors have also increased or decreased their stakes in the company. Chilton Capital Management LLC bought a new position in shares of ServiceNow in the 4th quarter worth approximately $ 25,000. AHL Investment Management Inc. bought a new position in shares of ServiceNow in the 4th quarter worth approximately $ 35,000. Lee Financial Co boosted its stake in ServiceNow shares by 671.4% in the 4th quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 35,000 after buying an additional 47 shares last quarter. Delos Wealth Advisors LLC bought a new position in shares of ServiceNow in the 4th quarter worth approximately $ 40,000. Finally, Maryland Capital Advisors Inc. bought a new position in ServiceNow shares in the 4th quarter worth approximately $ 53,000. Institutional investors own 87.20% of the company’s stock.
NYSE: NOW opened at $ 494.15 on Friday. The 50-day moving average price of the business is $ 465.12 and its 200-day moving average price is $ 523.79. The company has a market cap of $ 99.06 billion, a P/E ratio of 449.23, a PEG ratio of 10.00 and a beta of 1.03. ServiceNow, Inc. has a 52-week low of $ 406.47 and a 52-week high of $ 707.60. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37.
ServiceNow (NYSE: NOW-Get Rating) last released its earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 earnings per share (EPS) for the quarter, ahead of analysts ’consensus estimates of $ 0.34 of $ 0.13. The company had revenue of $ 1.72 billion for the quarter, compared to analyst estimates of $ 1.70 billion. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. ServiceNow’s revenue rose 26.6% compared to the same quarter last year. In the same period last year, the company earned $ 0.50 revenue per share. Sell-side analysts expect ServiceNow, Inc. will post 1.73 EPS for the current year.
Several equities analysts recently released reports on NOW shares. Cowen reduced their price target on ServiceNow from $ 725.00 to $ 695.00 in a research note on Thursday, April 28th. StockNews.com began coverage on ServiceNow in a research note on Thursday, March 31st. They set a “hold” rating on the stock. BMO Capital Markets reduced their price target on ServiceNow from $ 635.00 to $ 570.00 in a research note on Wednesday, April 27th. Oppenheimer reduced their price target on ServiceNow from $ 660.00 to $ 600.00 in a research note on Thursday, April 28th. Finally, Credit Suisse Group reduced their price target on ServiceNow from $ 800.00 to $ 700.00 in a research note on Thursday, April 28th. Two research analysts rated the stock with a sell rating, two gave a hold rating and twenty-five assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $ 640.70.
In other ServiceNow news, Director Frederic B. Luddy sold 707 shares of business stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $ 501.92, for a total transaction of $ 354,857.44. Following the sale, the director now owns 660 shares in the company, valued at approximately $ 331,267.20. The transaction was disclosed in a filing with the SEC, available via this link. Also, CFO Gina Mastantuono sold 193 shares of the business’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $ 525.00, for a total value of $ 101,325.00. Following the sale, the chief financial officer now owns 4,011 shares in the company, valued at approximately $ 2,105,775. The disclosure for this sale can be found here. Over the past ninety days, insiders have sold 11,170 shares of the company’s stock worth $ 5,324,386. 0.28% of the stock is owned by corporate insiders.
ServiceNow profile (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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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