MCIA Inc. reduced its position in shares of ServiceNow, Inc. (NYSE: NOW – Get Rating) by 1.3% in the 1st quarter, according to the company in its most recent disclosure to the Securities and Exchange Commission. The fund owns 3,237 shares of the information technology services provider’s stock after selling 42 shares during the period. MCIA Inc.’s holdings in ServiceNow were worth $ 1,655,000 at the end of the most recent quarter.
Some other institutional investors have recently added or reduced their stakes to NOW. Expanded by Orrstown Financial Services Inc. its holdings in ServiceNow shares of 20.7% in the first quarter. Orrstown Financial Services Inc. now owns 630 shares of the information technology services provider’s stock worth $ 351,000 after buying an additional 108 shares in the last quarter. NuWave Investment Management LLC acquired a new position in shares of ServiceNow in the first quarter valued at approximately $ 52,000. Heartland Bank & Trust Co increased its holdings in ServiceNow shares by 11.0% in the first quarter. Heartland Bank & Trust Co. now owns 1,843 shares of the information technology services provider’s stock worth $ 1,026,000 after buying an additional 182 shares in the last quarter. Expanded by Beese Fulmer Investment Management Inc. its holdings in ServiceNow shares of 9.8% in the first quarter. Beese Fulmer Investment Management Inc. now owns 493 shares of the information technology services provider’s stock worth $ 275,000 after buying an additional 44 shares in the last quarter. Finally, Brookstone Capital Management increased its holdings in ServiceNow shares by 29.2% in the first quarter. Brookstone Capital Management now owns 1,608 shares of the information technology services provider’s stock worth $ 822,000 after buying an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
A number of research analysts have recently released stock reports. Exane BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 29th. Truist Financial reduced their target price on ServiceNow shares from $ 700.00 to $ 600.00 in a research note on Tuesday, May 10th. Barclays reduced their target price on ServiceNow shares from $ 652.00 to $ 613.00 in a research note on Thursday, April 28th. Citigroup raised their target price on ServiceNow shares from $ 623.00 to $ 656.00 in a research note on Thursday, April 28th. Finally, Credit Suisse Group reduced their price target on ServiceNow shares from $ 800.00 to $ 700.00 in a research report on Thursday, April 28th. Two research analysts rated the stock with a sell rating, two assigned a hold rating and twenty-five gave a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $ 640.70.
NYSE: NOW shares traded $ 7.66 on Wednesday, reaching $ 462.93. 11,408 shares of the company were exchanged, compared to its average volume of 1,570,872. ServiceNow, Inc. has a 1-year low of $ 406.47 and a 1-year high of $ 707.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $ 466.65 and a 200-day moving average of $ 537.40. The company has a market cap of $ 92.80 billion, a price-to-earnings ratio of 413.88, a price-to-earnings-growth ratio of 9.00 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 EPS for the quarter, ahead of the consensus estimate of $ 0.34 of $ 0.13. The business had revenue of $ 1.72 billion for the quarter, compared to analyst estimates of $ 1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. Business revenue for the quarter rose 26.6% compared to the same quarter last year. In the same period last year, the company earned $ 0.50 EPS. As a group, analysts predict that ServiceNow, Inc. will post 1.73 earnings per share for the current year.
In other news, CFO Gina Mastantuono sold 193 shares of the company’s stock in a transaction that took place on Tuesday, April 12th. The shares were sold at an average price of $ 525.00, for a total transaction of $ 101,325.00. Following the completion of the sale, the chief financial officer now owns 4,011 shares of the company’s stock, valued at $ 2,105,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, insider Paul John Smith sold 125 shares of the company’s stock in a transaction that took place on Friday, May 13th. The stock was sold at an average price of $ 446.04, for a total transaction of $ 55,755.00. Following the sale, the insider now directly owns 1,446 shares of the company’s stock, valued at approximately $ 644,973.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,470 shares of the company’s stock worth $ 9,406,060. Insiders own 0.28% of the company’s stock.
About ServiceNow (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.
Further Reading
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filing and insider trade for ServiceNow, Inc. (NYSE: NOW – Get Rating).
Want More Great Investment Ideas?
Receive News and Ratings for ServiceNow Daily -Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for ServiceNow and related companies with a FREE daily email newsletter of MarketBeat.com.
.