Resources Investment Advisors LLC. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 113.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,476 shares of the information technology services provider’s stock after buying an additional 785 shares during the quarter. The holdings of Resources Investment Advisors LLC. in ServiceNow were worth $822,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Cavalier Investments LLC boosted its holdings in ServiceNow by 0.7% in the fourth quarter. Cavalier Investments LLC now owns 2,475 shares of the information technology services provider’s stock valued at $1,607,000 after buying an additional 18 shares during the period. SevenOneSeven Capital Management lifted its stake in shares of ServiceNow by 3.0% in the fourth quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock valued at $403,000 after buying an additional 18 shares in the last quarter. Raised by Means Investment CO. Inc. its stake in shares of ServiceNow by 0.6% in the fourth quarter. The Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock valued at $1,845,000 after buying an additional 18 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of ServiceNow by 1.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock valued at $854,000 after buying an additional 18 shares in the last quarter. Finally, Financial Architects Inc lifted its stake in shares of ServiceNow by 5.9% in the first quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after buying an additional 21 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.
ServiceNow Insider Activity
In related news, COO Chirantan Jitendra Desai sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the completion of the transaction, the chief operating officer now owns 38,980 shares of the company’s stock, valued at $18,613,729.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Chirantan Jitendra Desai sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the completion of the transaction, the chief operating officer now owns 38,980 shares of the company’s stock, valued at $18,613,729.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 412 shares of ServiceNow stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $427.17, for a total transaction of $175,994.04. Following the sale, the insider now owns 1,755 shares of the company’s stock, valued at $749,683.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,679 shares of company stock worth $9,358,018. Corporate insiders own 0.28% of the company’s stock.
Changes in Analyst Ratings
A number of research firms have weighed in on NOW. KeyCorp dropped their price objective on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. Royal Bank of Canada reaffirmed a “hold” rating on shares of ServiceNow in a research note on Thursday, July 28th. Canaccord Genuity Group dropped their price objective on shares of ServiceNow from $615.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Wells Fargo & Company dropped their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Finally, Citigroup dropped their price target on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $589.90.
ServiceNow Price Performance
NOW opened at $453.77 on Tuesday. The company has a market capitalization of $90.96 billion, a price-to-earnings ratio of 498.65, a PEG ratio of 9.21 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $464.09 and a 200-day moving average price of $504.78. ServiceNow, Inc. has a twelve month low of $406.47 and a twelve month high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.53 by $0.09. The company had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. ServiceNow’s revenue for the quarter was up 24.3% on a year-over-year basis. In the same quarter last year, the company earned $0.38 earnings per share. Equities analysts expect ServiceNow, Inc. will post 1.7 EPS for the current year.
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.
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