Removed by Beese Fulmer Investment Management Inc. its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 25.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 618 shares of the information technology services provider’s stock after buying an additional 125 shares during the quarter. The holdings of Beese Fulmer Investment Management Inc. in ServiceNow were worth $294,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. 180 Wealth Advisors LLC boosted its holdings in ServiceNow by 65.0% in the second quarter. 180 Wealth Advisors LLC now owns 1,307 shares of the information technology services provider’s stock valued at $633,000 after acquiring an additional 515 shares during the last quarter. Raised by MJP Associates Inc. ADV lifted its holdings in shares of ServiceNow by 6.6% during the second quarter. MJP Associates Inc. ADV now owns 439 shares of the information technology services provider’s stock valued at $209,000 after buying an additional 27 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of ServiceNow by 35.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 41,854 shares of the information technology services provider’s stock valued at $19,901,000 after acquiring an additional 10,963 shares during the period. MCIA Inc raised its stake in ServiceNow by 15.2% in the 2nd quarter. MCIA Inc now owns 3,730 shares of the information technology services provider’s stock valued at $1,854,000 after acquiring an additional 493 shares during the last quarter. Finally, Stonnington Group LLC boosted its position in ServiceNow by 11.4% in the second quarter. Stonnington Group LLC now owns 4,041 shares of the information technology services provider’s stock valued at $2,009,000 after buying an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 87.49% of the company’s stock.
ServiceNow Insider Transactions
In other news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the sale, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. The sale was disclosed in a legal filing with the SEC, accessible via this link. In other ServiceNow news, insider Paul John Smith sold 130 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $502.81, for a total transaction of $65,365.30. Following the completion of the transaction, the insider now owns 2,157 shares of the company’s stock, valued at approximately $1,084,561.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The disclosure for this sale can be found here. Insiders have sold a total of 30,256 shares of company stock valued at $14,019,372 over the last three months. 0.28% of the stock is currently owned by corporate insiders.
ServiceNow Price Performance
Shares of NYSE:NOW opened at $425.80 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average is $457.68 and its two-hundred-day moving average is $483.42. The company has a market capitalization of $86.01 billion, a P/E ratio of 467.91, a PEG ratio of 8.67 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $406.47 and a 52 week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company’s quarterly revenue 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. Analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current year.
Wall Street Analysts weigh in
A number of brokerages have issued reports on NOW. Mizuho reduced their price target on ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, July 28th. JMP Securities cut their price objective on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a report on Thursday, July 28th. UBS Group dropped their price target on ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. BMO Capital Markets reduced their price target on ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. Finally, Citigroup cut their price objective 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 equities 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $598.84.
About ServiceNow
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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.
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