Ritholtz Wealth Management boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 36.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,371 shares of the information technology services provider’s stock after purchasing an additional 366 shares during the period. Ritholtz Wealth Management’s holdings in ServiceNow were worth $652,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raised by Vanguard Group Inc. its holdings in shares of ServiceNow by 1.9% during the first quarter. The Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock valued at $9,074,862,000 after acquiring an additional 306,106 shares during the period. Raised by BlackRock Inc. its holdings in shares of ServiceNow by 0.4% during the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock valued at $10,509,544,000 after acquiring an additional 65,623 shares during the period. Polen Capital Management LLC lifted its holdings in shares of ServiceNow by 2.1% during the first quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock valued at $1,792,963,000 after acquiring an additional 67,385 shares during the period. Capital International Investors lifted its holdings in shares of ServiceNow by 18.1% during the first quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after acquiring an additional 491,835 shares during the period. Finally, Sands Capital Management LLC lifted its holdings in shares of ServiceNow by 3.3% during the first quarter. Sands Capital Management LLC now owns 2,735,070 shares of the information technology services provider’s stock valued at $1,523,133,000 after acquiring an additional 87,874 shares during the period. 87.49% of the stock is owned by institutional investors.
ServiceNow Insider Activity
In related news, CFO Gina Mastantuono sold 4,262 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $439.10, for a total value of $1,871,444.20. Following the completion of the transaction, the chief financial officer now directly owns 4,262 shares in the company, valued at approximately $1,871,444.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the transaction, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 4,262 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $439.10, for a total value of $1,871,444.20. Following the transaction, the chief financial officer now directly owns 4,262 shares of the company’s stock, valued at approximately $1,871,444.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,922 shares of company stock valued at $15,146,557. 0.28% of the stock is owned by company insiders.
ServiceNow Price Performance
Shares of NOW opened at $377.04 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50 day simple moving average of $453.76 and a 200 day simple moving average of $477.77. ServiceNow, Inc. has a 52-week low of $374.36 and a 52-week high of $707.60. The company has a market capitalization of $76.16 billion, a PE ratio of 414.33, a P/E/G ratio of 7.67 and a beta of 0.94.
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 (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company earned $0.38 EPS. ServiceNow’s quarterly revenue was up 24.3% compared to the same quarter last year. sell-side analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
Changes in Analyst Ratings
A number of research analysts have issued reports on NOW shares. Sanford C. Bernstein initiated coverage on ServiceNow in a report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 price objective for the company. Barclays cut their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Moffett Nathanson initiated coverage on ServiceNow in a report on Thursday. They issued a “hold” rating and a $553.00 target price for the company. UBS Group cut their price target on ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Finally, Citigroup cut their price target on ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $593.29.
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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