Peapack Gladstone Financial Corp. reduced its stake in shares of ServiceNow, Inc. (NYSE: NOW) by 7.1% in the 3rd quarter, HoldingsChannel reports. The company owns 1,900 shares of the information technology services provider’s stock after selling 146 shares during the period. Peapack Gladstone Financial Corp’s holdings in ServiceNow were valued at $ 1,182,000 in its most recent SEC filing.
Other institutional investors and hedge funds have recently increased or decreased their stakes in the company. Sugarloaf Wealth Management LLC increased its stake in 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 buying an additional 24 shares in the last quarter. Eagle Bay Advisors LLC strengthened its position in ServiceNow shares by 75.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $ 27,000 after acquiring an additional 18 shares in the last quarter. Baystate Wealth Management LLC strengthened its position in ServiceNow shares by 60.0% during 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 3rd quarter worth approximately $ 31,000. Finally, powered by MV Capital Management Inc. its position in ServiceNow shares of 96.2% in the 3rd quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $ 32,000 after acquiring an additional 25 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.
Some research analysts have recently released reports on the company. Truist Financial raised their price target on ServiceNow from $ 640.00 to $ 700.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. Barclays lowered their price target on ServiceNow from $ 680.00 to $ 652.00 and set an “overweight” rating for the company in a research report on Thursday, January 27th. raised their price target on ServiceNow from $ 650.00 to $ 715.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. Jefferies Financial Group lowered their price target on ServiceNow from $ 765.00 to $ 700.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Finally, Needham & Company LLC raised their target price on ServiceNow from $ 641.00 to $ 780.00 and gave the company a “buy” rating in a report on Monday, November 1st. Two equities research analysts rated the stock with a hold rating and twenty-eight gave the stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $ 694.07.
Shares of NOW stock opened at $ 610.46 on Friday. The company has a market cap of $ 122.09 billion, a price-to-earnings ratio of 535.50, a price-to-earnings-growth ratio of 10.36 and a beta of 1.01. The stock has a 50-day simple moving average of $ 593.00 and a 200-day simple moving average of $ 624.61. ServiceNow, Inc. has a 12-month low of $ 448.27 and a 12-month high of $ 707.60. The company has a current ratio of 1.05, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40.
ServiceNow (NYSE: NOW) last released 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 had a return on equity of 9.43% and a net margin of 3.90%. In the same quarter last year, the business posted $ 0.16 revenue per share. On average, equities analysts predict that ServiceNow, Inc. will post 1.93 earnings per share for the current financial year.
In related news, insider Christopher Bedi sold 700 shares of the company’s stock in a transaction that took place on Friday, January 28th. The stock was sold at an average price of $ 528.69, for a total value of $ 370,083.00. The transaction was disclosed in a legal filing with the SEC, available at this link. Also, General Counsel Russell S. Elmer sold 2,092 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $ 577.99, for a total value of $ 1,209,155.08. The disclosure for this sale can be found here. In the past three months, insiders have sold 29,953 shares of the company’s stock worth $ 17,420,327. Company insiders own 0.35% of the company’s stock.
ServiceNow 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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