Expanded by Great Valley Advisor Group Inc. its holders in ServiceNow, Inc. (NYSE: NOW – Get Rating) by 7.5% in the first quarter, HoldingsChannel.com reports. The fund owns 755 shares of the information technology services provider’s stock after acquiring an additional 53 shares during the period. The holders of Great Valley Advisor Group Inc. to ServiceNow was worth $ 472,000 in its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently changed their holdings in the company. Moors & Cabot Inc. bought a new position in ServiceNow. in the 3rd quarter worth $ 214,000. Brookstone Capital Management grew its position on shares of ServiceNow by 19.5% in the fourth quarter. Brookstone Capital Management now owns 1,245 shares of the information technology services provider’s stock worth $ 705,000 after acquiring an additional 203 shares last quarter. IFP Advisors Inc increased its holdings in shares of ServiceNow by 12.1% in the 4th quarter. IFP Advisors Inc. now owns 1,729 shares of the information technology services provider’s stock worth $ 1,126,000 after acquiring an additional 186 shares during the period. Pure Financial Advisors LLC increased its holdings in ServiceNow shares by 42.1% in the 4th quarter. Pure Financial Advisors LLC now owns 679 shares of the information technology services provider’s stock worth $ 441,000 after acquiring an additional 201 shares during the period. Finally, Harbor Capital Advisors LLC increased its stake in ServiceNow by 19.4% in the 4th quarter. Harbor Capital Advisors LLC now owns 4,379 shares of the information technology services provider’s stock worth $ 2,842,000 after purchasing an additional 713 shares during the period. Institutional investors own 87.20% of the company’s stock.
In other news, insider Christopher Bedi sold 495 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $ 489.18, for a total transaction of $ 242,144.10. Following the completion of the transaction, the insider now owns 12,977 shares of the company’s stock, valued at $ 6,348,088.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. Also, Director Frederic B. Luddy sold 707 shares of ServiceNow stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $ 501.92, for a total value of $ 354,857.44. Following the sale, the director now directly owns 660 shares in the company, valued at $ 331,267.20. The disclosure for this sale can be found here. Insiders sold 17,770 shares of the company’s stock worth $ 8,999,332 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.
Some brokerages have recently released reports on NOW. Piper Sandler reduced their price target on ServiceNow from $ 650.00 to $ 600.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. TheStreet downgraded ServiceNow from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Cowen lowered their target price on ServiceNow from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. Jefferies Financial Group lowered their price target on ServiceNow from $ 700.00 to $ 550.00 in a research note on Monday, May 23rd. Finally, Credit Suisse Group reduced their target price on ServiceNow from $ 800.00 to $ 700.00 in a research note on Thursday, April 28th. Two research analysts rated the stock with a sell rating, two gave a hold rating and twenty-five assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $ 640.70.
NYSE: NOW opened at $ 484.36 on Friday. The company’s 50-day moving average is $ 463.36 and its 200-day moving average is $ 528.27. 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 12 -month low of $ 406.47 and a 12 -month high of $ 707.60. The company has a market cap of $ 97.09 billion, a price-to-earnings ratio of 440.33, a P/E/G ratio of 10.22 and a beta of 1.09.
ServiceNow (NYSE: NOW-Get Rating) last announced its earnings results 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 company had revenue of $ 1.72 billion for the quarter, compared to the agreed $ 1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. In the same quarter last year, the company posted $ 0.50 EPS. Business quarterly revenue rose 26.6% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 1.73 EPS for the current financial 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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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).
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