Ritholtz Wealth Management increased its holdings in shares of ServiceNow, Inc. (NYSE: NOW-Get Rating) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owns 1,005 shares of the information technology services provider’s stock after buying an additional 66 shares in the quarter. Ritholtz Wealth Management’s holdings in ServiceNow were worth $ 560,000 at the end of the most recent quarter.
Many other hedge funds buy and sell shares of stock. Lifted by BlackRock Inc. its stake in ServiceNow was 0.4% in the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $ 10,509,544,000 after buying an additional 65,623 shares last quarter. State Street Corp raised its position on ServiceNow by 3.2% in the fourth quarter. State Street Corp. now owns 7,870,165 shares of the information technology services provider’s stock worth $ 5,108,603,000 after purchasing an additional 241,296 shares during the period. Geode Capital Management LLC raised its position on ServiceNow by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 3,082,765 shares of the information technology services provider’s stock worth $ 1,995,048,000 after purchasing an additional 106,519 shares during the period. Nuveen Asset Management LLC increased its position on ServiceNow by 11.7% in the fourth quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock worth $ 1,898,748,000 after purchasing an additional 305,908 shares during the period. Finally, Brown Advisory Inc. its position in ServiceNow by 16.6% in the fourth quarter. Brown Advisory Inc. now owns 2,480,958 shares of the information technology services provider’s stock worth $ 1,610,414,000 after purchasing an additional 352,766 shares during the period. Hedge funds and other institutional investors own 87.20% of the company’s stock.
In related news, insider Paul John Smith sold 125 shares of stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $ 446.04, for a total transaction of $ 55,755.00. Following the transaction, the insider now directly owns 1,446 shares in the company, valued at $ 644,973.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Also, COO Chirantan Jitendra Desai sold 7,000 shares of stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $ 477.52, for a total value of $ 3,342,640.00. Following the transaction, the chief operating officer now owns 38,980 shares in the company, valued at $ 18,613,729.60. The disclosure for this sale can be found here. Insiders have sold 17,770 shares of the company’s stock worth $ 8,999,332 over the past 90 days. Company insiders own 0.28% of the company’s stock.
Several research analysts commented on NOW shares. Deutsche Bank Aktiengesellschaft cut their price target on ServiceNow from $ 700.00 to $ 680.00 in a research report on Thursday, April 28th. Stifel Nicolaus cut their target price on ServiceNow from $ 650.00 to $ 550.00 in a research report on Wednesday, May 25th. Citigroup raised their target price on ServiceNow from $ 623.00 to $ 656.00 in a report on Thursday, April 28th. Mizuho lowered their target price on ServiceNow from $ 650.00 to $ 550.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Finally, Oppenheimer lowered their price target on ServiceNow from $ 660.00 to $ 600.00 in a report on Thursday, April 28th. Two analysts rated the stock with a sell rating, two gave a hold rating and twenty -five gave a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $ 640.70.
NYSE: NOW shares opened at $ 496.70 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow, Inc. has a 52-week low of $ 406.47 and a 52-week high of $ 707.60. The stock’s fifty day simple moving average is $ 464.79 and its 200-day simple moving average is $ 532.10. The company has a market capitalization of $ 99.57 billion, a P/E ratio of 451.55, a P/E/G ratio of 10.22 and a beta of 1.09.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.34 by $ 0.13. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The business had revenue of $ 1.72 billion for the quarter, compared to the consensus estimate of $ 1.70 billion. In the same period last year, the business earned $ 0.50 revenue per share. Business revenue rose 26.6% on a year-on-year basis. On average, sell-side analysts expect ServiceNow, Inc. will post 1.73 earnings per share for the current year.
ServiceNow Company 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.
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