NorthCrest Asset Manangement LLC lifted its position on shares of ServiceNow, Inc. (NYSE: NOW-Get Rating) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owns 1,403 shares of the information technology services provider’s stock after acquiring an additional 45 shares in the quarter. NorthCrest Asset Manangement LLC’s holdings in ServiceNow were worth $ 781,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have recently increased or decreased their stakes in the stock. Spire Wealth Management increased its holdings in ServiceNow shares by 450.6% in the 1st quarter. Spire Wealth Management now owns 25,626 shares of the information technology services provider’s stock worth $ 14,284,000 after acquiring an additional 20,972 shares in the last quarter. PDS Planning Inc boosted its holdings in ServiceNow shares by 16.8% in the 1st quarter. PDS Planning Inc now owns 418 shares of the information technology services provider’s stock worth $ 233,000 after acquiring an additional 60 shares in the last quarter. IFM Investors Pty Ltd strengthened its holdings in ServiceNow shares by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 31,670 shares of the information technology services provider’s stock worth $ 17,637,000 after acquiring an additional 5,288 shares in the last quarter. Colonial River Wealth Management LLC boosted its holdings in ServiceNow shares by 15.3% in the 1st quarter. Colonial River Wealth Management LLC now owns 421 shares of the information technology services provider’s stock worth $ 234,000 after acquiring an additional 56 shares in the last quarter. Finally, Columbia Trust Co 01012016 increased its holdings in ServiceNow shares by 10.9% in the 1st quarter. Columbia Trust Co 01012016 now owns 2,714 shares of the information technology services provider’s stock worth $ 1,377,000 after acquiring an additional 266 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors.
In other news, Director Frederic B. Luddy sold 707 shares of business stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $ 501.92, for a total value of $ 354,857.44. Following the transaction, the director now owns 660 shares in the company, valued at approximately $ 331,267.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, available via this link. Also, insider Lara Caimi sold 726 shares of the business’s stock in a transaction that took place on Tuesday, May 31st. The stock was sold at an average price of $ 474.48, for a total value of $ 344,472.48. Following the completion of the transaction, the insider now owns 99 shares in the company, valued at approximately $ 46,973.52. The disclosure for this sale can be found here. Insiders sold a total of 17,770 shares of the company’s stock worth $ 8,999,332 in the last quarter. Company insiders own 0.28% of the company’s stock.
Some research analysts have recently released reports on the company. Piper Sandler lowered their price target on ServiceNow from $ 650.00 to $ 600.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. Cowen lowered their target price on ServiceNow from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. Credit Suisse Group lowered their price target on ServiceNow from $ 800.00 to $ 700.00 in a research report on Thursday, April 28th. Truist Financial lowered their price target on ServiceNow from $ 700.00 to $ 600.00 in a research report on Tuesday, May 10th. Finally, Cowen lowered their target price on ServiceNow from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. Two research analysts rated the stock with a sell rating, two gave a hold rating and twenty-five gave a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $ 640.70.
NOW the stock opened at $ 473.44 on Wednesday. The company has a market capitalization of $ 94.91 billion, a P/E ratio of 430.40, a price-to-earnings-growth ratio of 10.22 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52-week low of $ 406.47 and a 52-week high of $ 707.60. The business has a 50-day simple moving average of $ 463.97 and a two-hundred day simple moving average of $ 531.69.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 earnings per share (EPS) for the quarter, beating analysts ’consensus estimates of $ 0.34 by $ 0.13. The business had revenue of $ 1.72 billion in the quarter, compared to the agreed $ 1.70 billion. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company’s quarterly revenue rose 26.6% on a year-over-year basis. In the same quarter last year, the business earned $ 0.50 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 1.73 earnings per share for the current financial year.
About ServiceNow (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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