Raised by Beacon Investment Advisory Services Inc. its position on the components of ServiceNow, Inc. (NYSE: NOW-Get Rating) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owns 2,265 shares of the information technology services provider’s stock after buying an additional 198 shares in the quarter. Holders of Beacon Investment Advisory Services Inc. to ServiceNow was worth $ 1,470,000 in its most recent SEC filing.
Some other hedge funds and other institutional investors have also recently changed their holdings in the business. Powered by BlackRock Inc. its stake in ServiceNow was 4.2% in the 3rd quarter. BlackRock Inc. now owns 16,125,077 shares of the information technology services provider’s stock worth $ 10,034,153,000 after buying an additional 657,340 shares in the last quarter. Morgan Stanley boosted its stake in ServiceNow by 1.2% in the 2nd quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock worth $ 3,999,292,000 after buying an additional 86,441 shares in the last quarter. Geode Capital Management LLC increased its stake in ServiceNow by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,976,246 shares of the information technology services provider’s stock worth $ 1,846,169,000 after buying an additional 72,158 shares in the last quarter. Expanded by Brown Advisory Inc. its stake in ServiceNow was 16.6% in the 4th quarter. Brown Advisory Inc. now owns 2,480,958 shares of the information technology services provider’s stock worth $ 1,610,414,000 after buying an additional 352,766 shares in the last quarter. Finally, American Century Companies Inc. expanded. its stake in ServiceNow was 2.0% in the 3rd quarter. American Century Companies Pvt. now owns 1,029,559 shares of the information technology services provider’s stock worth $ 640,663,000 after buying an additional 19,797 shares in the last quarter. 86.63% of the stock is owned by hedge funds and other institutional investors.
NOW has been the subject of several research reports. BMO Capital Markets raised their target price on ServiceNow from $ 600.00 to $ 635.00 and gave the company an “outperform” rating in a research note on Thursday, January 27th. Canaccord Genuity Group cut their price target on ServiceNow from $ 715.00 to $ 615.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating and set a $ 460.00 price target for the company. in a research report on Tuesday, March 29th. Morgan Stanley raised their price target on ServiceNow from $ 807.00 to $ 810.00 and gave the company an “overweight” rating in a research report on Thursday, January 27th. Finally, Bank of America cut their price target on ServiceNow from $ 725.00 to $ 680.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Two investment analysts rated the stock with a sell rating, three assigned a hold rating and twenty-seven assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $ 684.84.
In other news, Director Frederic B. Luddy sold 333 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $ 587.50, for a total value of $ 195,637.50. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Also, CFO Gina Mastantuono sold 193 shares of the company’s stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $ 525.00, for a total value of $ 101,325.00. Following the completion of the sale, the chief financial officer now directly owns 4,011 shares in the company, valued at $ 2,105,775. The disclosure for this sale can be found here. Insiders have sold 32,141 shares of the company’s stock worth $ 18,355,758 over the past three months. Company insiders own 0.35% of the company’s stock.
ServiceNow stock traded $ 19.07 in mid-day trading on Tuesday, reaching $ 516.60. 26,954 shares of the company’s stock were traded, compared to its average volume of 1,783,282. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. The stock has a market cap of $ 103.32 billion, a P/E ratio of 432.59, a P/E/G ratio of 9.72 and a beta of 1.04. ServiceNow, Inc. has a 1-year low of $ 448.27 and a 1-year high of $ 707.60. The stock has a 50-day moving average of $ 554.83 and a two-hundred-day moving average of $ 601.35.
ServiceNow (NYSE: NOW-Get Rating) last posted its earnings results on Wednesday, January 26th. The information technology service provider reported $ 0.29 EPS for the quarter, ahead of Thomson Reuters ’consensus estimate of $ 0.22 of $ 0.07. The company had revenue of $ 1.61 billion for the quarter, compared to the consolidated $ 1.60 billion. ServiceNow has a net margin of 3.90% and a return on equity of 9.43%. At the same time last year, the business posted $ 0.16 revenue per share. As a group, research analysts predict that ServiceNow, Inc. will post 1.86 EPS for the current financial year.
ServiceNow 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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