RFG Advisory LLC lowered its position in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 982 shares of the information technology services provider’s stock after selling 83 shares during the quarter. RFG Advisory LLC’s holdings in ServiceNow were worth $547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of NOW. Ilmarinen Mutual Pension Insurance Co bought a new stake in ServiceNow in the first quarter valued at approximately $5,569,000. LGT Group Foundation lifted its position in ServiceNow by 40.8% in the first quarter. LGT Group Foundation now owns 76,016 shares of the information technology services provider’s stock valued at $41,710,000 after purchasing an additional 22,044 shares during the last quarter. Raised by LGT Fund Management Co Ltd. its position in ServiceNow by 1,436.8% in the first quarter. LGT Fund Management Co Ltd. now owns 9,221 shares of the information technology services provider’s stock valued at $5,059,000 after purchasing an additional 8,621 shares during the last quarter. GSA Capital Partners LLP bought a new stake in ServiceNow during the first quarter valued at about $1,381,000. Finally, Redwood Financial Network Corp purchased a new stake in ServiceNow in the first quarter valued at approximately $269,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.
ServiceNow down 3.5%
Shares of ServiceNow stock opened at $459.71 on Tuesday. The company has a market cap of $92.86 billion, a price-to-earnings ratio of 505.18, a PEG ratio of 9.69 and a beta of 0.94. The business has a 50-day moving average price of $468.17 and a 200-day moving average price of $499.49. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. 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 $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. In the same quarter last year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. Equities research analysts expect ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Truist Financial dropped their price objective on ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. BMO Capital Markets dropped their price target on ServiceNow from $595.00 to $520.00 in a research note on Friday, July 15th. Wells Fargo & Company reduced their price objective 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. Oppenheimer decreased their price objective on shares of ServiceNow from $660.00 to $600.00 in a report on Thursday, April 28th. Finally, Morgan Stanley decreased their price objective on shares of ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $598.84.
ServiceNow Insider Activity
In related news, COO Chirantan Jitendra Desai sold 7,000 shares of the stock in a transaction dated 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 owns 38,980 shares of the company’s stock, valued at approximately $18,613,729.60. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In other ServiceNow news, insider Paul John Smith sold 411 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $482.95, for a total value of $198,492.45. Following the completion of the sale, the insider now owns 2,467 shares of the company’s stock, valued at $1,191,437.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the firm’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the completion of the sale, the chief operating officer now directly owns 38,980 shares of the company’s stock, valued at approximately $18,613,729.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,427 shares of company stock worth $16,189,898. Insiders own 0.28% of the company’s stock.
ServiceNow 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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