Rockefeller Capital Management LP has increased its holdings in ServiceNow, Inc. (NYSE: NOW) by 13.3% in the third quarter, HoldingsChannel reports. The company owns 23,422 shares of the information technology services provider’s stock after purchasing an additional 2,758 shares during the period. Rockefeller Capital Management LP’s holdings in ServiceNow were valued at $ 14,574,000 in its most recent SEC filing.
Other large investors have also changed their holdings in the company. Sugarloaf Wealth Management LLC lifted its position on ServiceNow by 150.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the information technology services provider’s stock worth $ 25,000 after acquiring an additional 24 shares last quarter. Baystate Wealth Management LLC lifted its position on ServiceNow by 60.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 48 shares of the information technology services provider’s stock worth $ 30,000 after acquiring an additional 18 shares in the last quarter. PFG Private Wealth Management LLC acquired a new position in shares of ServiceNow in the third quarter valued at approximately $ 31,000. Raised by MV Capital Management Inc. its position in ServiceNow shares of 96.2% in the third quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $ 32,000 after buying an additional 25 shares last quarter. Finally, Asset Dedication LLC acquired a new position in ServiceNow shares in the third quarter valued at approximately $ 33,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.
Some brokerages have commented recently on NOW. Bank of America cut their price target on shares of ServiceNow from $ 725.00 to $ 680.00 and set a “buy” rating for the company in a research report on Thursday. Credit Suisse Group reduced their target price on shares of ServiceNow from $ 850.00 to $ 800.00 and set an “outperform” rating on the stock in a research note on Thursday. Needham & Company LLC raised their price target on ServiceNow shares from $ 641.00 to $ 780.00 and gave the company a “buy” rating in a report on Monday, November 1st. UBS Group raised their price target on ServiceNow shares from $ 650.00 to $ 716.00 and gave the company a “buy” rating in a report on Thursday, October 28th. Finally, Canaccord Genuity Group cut their price target on ServiceNow shares from $ 715.00 to $ 615.00 in a report on Thursday. Two equities research analysts rated the stock with a hold rating and twenty-eight gave the company a buy rating. According to MarketBeat, the company currently has an average “Buy” rating and a consensus price target of $ 694.07.
The NYSE NOW opened at $ 561.08 on Friday. The firm has a 50-day moving average of $ 603.09 and a 200-day moving average of $ 623.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $ 111.65 billion, a PE ratio of 514.75, a P/E/G ratio of 9.60 and a beta of 1.01. ServiceNow, Inc. has a 52-week low of $ 448.27 and a 52-week high of $ 707.60.
ServiceNow (NYSE: NOW) last posted its earnings results on Wednesday, January 26th. The information technology service provider reported $ 1.46 earnings per share (EPS) for the quarter, ahead of analysts ’consensus estimates of $ 1.43 of $ 0.03. ServiceNow has a net margin of 3.99% and a return on equity of 9.31%. In the same quarter last year, the company posted $ 0.16 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 1.39 EPS for the current financial year.
In other news, Director Dennis Woodside bought 2,861 shares of the company’s stock in a transaction dated Monday, Nov. 8th. The stock was purchased at an average value of $ 694.58 per share, for a total transaction of $ 1,987,193.38. The purchase was disclosed in a legal filing with the SEC, available at this link. Also, CFO Gina Mastantuono sold 66 shares of the business’s stock in a transaction that took place on Tuesday, November 9th. The shares were sold at an average price of $ 695.31, for a total transaction of $ 45,890.46. The disclosure for this sale can be found here. Insiders sold a total of 19,655 shares of the company’s stock worth $ 11,696,731 in the last quarter. Corporate insiders own 0.35% of the company’s stock.
ServiceNow Company Profile
ServiceNow, Inc. is engaged in providing enterprise cloud computing solutions. The company delivers digital workflows on an enterprise cloud platform called Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products. .
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