PFG Advisors raised its position on shares of ServiceNow, Inc. (NYSE: NOW – Get Rating) by 8.8% in the 1st quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owns 397 shares of the information technology services provider’s stock after acquiring an additional 32 shares during the period. PFG Advisors ’holdings in ServiceNow were valued at $ 221,000 in its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently changed their holdings in the company. DNB Asset Management AS raised its holdings in ServiceNow by 6.7% in the 4th quarter. DNB Asset Management AS now owns 32,989 shares of the information technology services provider’s stock worth $ 21,413,000 after purchasing an additional 2,085 shares during the period. Walleye Capital LLC raised its holdings in ServiceNow by 54.8% in the 4th quarter. Walleye Capital LLC now owns 7,084 shares of the information technology services provider’s stock worth $ 4,598,000 after purchasing an additional 2,507 shares during the period. Lloyd Advisory Services LLC. its position in ServiceNow grew by 22.5% in the 4th quarter. Lloyd Advisory Services LLC. now owns 125 shares of the information technology services provider’s stock worth $ 81,000 after acquiring an additional 23 shares last quarter. The New York State Teachers Retirement System grew its position on ServiceNow by 0.3% in the 4th quarter. The New York State Teachers Retirement System now owns 225,098 shares of the information technology services provider’s stock worth $ 146,113,000 after acquiring an additional 767 shares last quarter. Finally, Stonnington Group LLC increased its position in ServiceNow by 362.1% in the 4th quarter. Stonnington Group LLC now owns 33,446 shares of the information technology services provider’s stock worth $ 19,347,000 after acquiring an additional 26,208 shares last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.
In related news, COO Chirantan Jitendra Desai sold 7,000 shares of ServiceNow stock in a transaction that took place on Friday, May 27th. The shares were sold at an average price of $ 477.52, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. Also, insider Christopher Bedi sold 495 shares of ServiceNow stock in a transaction that took place on Friday, April 29th. The shares were sold at an average price of $ 489.18, for a total transaction of $ 242,144.10. Following the completion of the transaction, the insider now owns 12,977 shares of the company’s stock, valued at $ 6,348,088.86. The disclosure for this sale can be found here. Over the past 90 days, insiders have sold 17,770 shares of the company’s stock worth $ 8,999,332. 0.28% of the stock is currently owned by company insiders.
NOW has been the subject of several research analyst reports. StockNews.com began coverage on ServiceNow in a research report on Thursday, March 31st. They gave a “hold” rating to the stock. Jefferies Financial Group cut their price target on ServiceNow from $ 700.00 to $ 550.00 in a research report on Monday, May 23rd. Exane BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 29th. BMO Capital Markets cut their price target on ServiceNow from $ 635.00 to $ 570.00 in a research report on Wednesday, April 27th. Finally, Cowen cut their price target on ServiceNow from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. Two equities research analysts rated the stock with a sell rating, two assigned a hold rating and twenty-five gave a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $ 640.70.
ServiceNow stock opened at $ 484.36 on Friday. ServiceNow, Inc. has a 52 -week low of $ 406.47 and a 52 -week high of $ 707.60. The company’s 50-day average moving price is $ 463.36 and its two-hundred-day average price is $ 529.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37. The stock has a market cap of $ 97.09 billion, a P/E ratio of 440.33, a P/E/G ratio of 10.22 and a beta of 1.09.
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, topping the consensus estimate of $ 0.34 of $ 0.13. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company had revenue of $ 1.72 billion in the quarter, compared to analyst estimates of $ 1.70 billion. In the same quarter last year, the business posted $ 0.50 EPS. ServiceNow’s quarterly revenue rose 26.6% compared to the same quarter last year. On average, equities analysts expect ServiceNow, Inc. will post 1.73 EPS 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.
Further Reading
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