Nvwm LLC reduced its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 21.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,524 shares of the information technology services provider’s stock after selling 414 shares during the period. Nvwm LLC’s holdings in ServiceNow were worth $849,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in ServiceNow during the 4th quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new stake in ServiceNow in the 1st quarter valued at about $28,000. Lee Financial Co increased its stake in ServiceNow by 671.4% during the 4th quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. Delos Wealth Advisors LLC purchased a new stake in ServiceNow during the 4th quarter valued at approximately $40,000. Finally, GoalVest Advisory LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $43,000. 87.20% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
NOW has been the subject of several analyst reports. Guggenheim started coverage on ServiceNow in a research report on Friday, August 12th. They issued a “neutral” rating and a $510.00 target price for the company. Jefferies Financial Group dropped their price target on ServiceNow from $700.00 to $550.00 in a research report on Monday, May 23rd. Credit Suisse Group dropped their price target on ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Royal Bank of Canada dropped their price target on ServiceNow from $670.00 to $610.00 in a research report on Monday, July 18th. Finally, Citigroup dropped their price target on ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $598.84.
ServiceNow Stock Drops 3.2%
Shares of NYSE NOW opened at $461.00 on Monday. The stock has a market cap of $93.12 billion, a P/E ratio of 523.36, a PEG ratio of 9.69 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow, Inc. has a 12-month low of $406.47 and a 12-month high of $707.60. The business’s fifty day simple moving average is $467.79 and its 200-day simple moving average is $500.32.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. As a group, equities analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
Internal Activity
In other news, insider Paul John Smith sold 130 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $502.81, for a total value of $65,365.30. Following the sale, the insider now directly owns 2,157 shares in the company, valued at $1,084,561.17. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In related news, insider Paul John Smith sold 130 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $502.81, for a total value of $65,365.30. Following the transaction, the insider now owns 2,157 shares of the company’s stock, valued at $1,084,561.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible through this link. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $477.52, for a total amount of $3,342,640.00. Following the completion of the transaction, the chief operating officer now directly owns 38,980 shares in the company, valued at approximately $18,613,729.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,427 shares of company stock valued at $16,189,898. Corporate insiders own 0.28% of the company’s stock.
ServiceNow Company Profile
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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.
Further Reading
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