NuWave Investment Management LLC has purchased a new stake in ServiceNow, Inc. (NYSE: NOW – Get Rating) in the 1st quarter, Holdings Channel.com reports. The fund bought 94 shares of the information technology services provider’s stock, valued at approximately $ 52,000.
Other institutional investors have also made changes to their positions in the company. New World Advisors LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth approximately $ 350,000. EP Wealth Advisors LLC increased its holdings in ServiceNow shares by 1,054.5% in the 3rd quarter. EP Wealth Advisors LLC now owns 8,532 shares of the information technology services provider’s stock worth $ 414,000 after buying an additional 7,793 shares in the last quarter. Cetera Advisors LLC increased its holdings in ServiceNow shares by 494.8% in the 3rd quarter. Cetera Advisors LLC now owns 6,709 shares of the information technology services provider’s stock worth $ 4,175,000 after buying an additional 5,581 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of ServiceNow by 2.7% in the 3rd quarter. Captrust Financial Advisors now owns 3,941 shares of the information technology services provider’s stock worth $ 2,452,000 after buying an additional 103 shares in the last quarter. Finally, Consolidated Planning Corp. bought a new stake in shares of ServiceNow in the 3rd quarter worth approximately $ 83,000. 87.20% of the stock is currently owned by hedge funds and other institutional investors.
NOW has been the subject of several analyst reports. Mizuho lowered their target price on ServiceNow shares from $ 650.00 to $ 550.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. KeyCorp lowered their price target on ServiceNow shares from $ 692.00 to $ 613.00 and set an “overweight” rating on the stock in a report on Monday, April 25th. StockNews.com began coverage on parts of ServiceNow in a report on Thursday, March 31st. They set a “hold” rating on the stock. UBS Group lowered their price target on ServiceNow shares to $ 570.00 in a report on Wednesday, May 25th. Finally, Credit Suisse Group reduced their price target on ServiceNow shares from $ 800.00 to $ 700.00 in a report on Thursday, April 28th. Two research analysts rated the stock with a sell rating, two issued a hold rating and twenty-five gave a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $ 640.70.
In related news, insider Lara Caimi sold 726 shares of the 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 transaction of $ 344,472.48. Following the completion of the sale, the insider now directly owns 99 shares of the company’s stock, valued at approximately $ 46,973.52. The transaction was disclosed in a document filed with the SEC, available through the SEC website. Also, Director Frederic B. Luddy sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $ 501.92, for a total transaction of $ 354,857.44. Following the transaction, the director now directly owns 660 shares of the company’s stock, valued at $ 331,267.20. The disclosure for this sale can be found here. In the past three months, insiders have sold 17,770 shares of the company’s stock worth $ 8,999,332. 0.28% of the stock is owned by company insiders.
NYSE: NOW shares opened at $ 485.53 on Friday. The company has a market capitalization of $ 97.33 billion, a price-to-earnings ratio of 441.39, a P/E/G ratio of 9.23 and a beta of 1.09. The company’s 50 day simple moving average is $ 464.87 and its 200 day simple moving average is $ 535.95. The company has a debt-to-equity ratio of 0.37, current ratio of 1.12 and quick ratio of 1.12. ServiceNow, Inc. has a fifty -two week low of $ 406.47 and a fifty -two week high of $ 707.60.
ServiceNow (NYSE: NOW-Get Rating) last posted 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. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The business had revenue of $ 1.72 billion in the quarter, compared to analysts ’expectations of $ 1.70 billion. In the same period last year, the business earned $ 0.50 EPS. ServiceNow’s revenue for the quarter rose 26.6% compared to the same quarter last year. Equities research analysts expect ServiceNow, Inc. will post 1.73 earnings per share for the current year.
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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