Vetamer Capital Management LP reduced its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 11.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,003 shares of the information technology services provider’s stock after selling 1,565 shares during the period. ServiceNow makes up 4.3% of Vetamer Capital Management LP’s investment portfolio, making the stock its 10th biggest position. Vetamer Capital Management LP’s holdings in ServiceNow were worth $6,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of NOW. The Vanguard Group Inc. grew its position in shares of ServiceNow by 1.9% in the 1st quarter. The Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock valued at $9,074,862,000 after purchasing an additional 306,106 shares during the last quarter. Powered by BlackRock Inc. its holdings in ServiceNow by 0.4% in the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $10,509,544,000 after acquiring an additional 65,623 shares in the last quarter. State Street Corp boosted its holdings in ServiceNow by 3.2% in the fourth quarter. State Street Corp now owns 7,870,165 shares of the information technology services provider’s stock valued at $5,108,603,000 after acquiring an additional 241,296 shares during the last quarter. Polen Capital Management LLC boosted its holdings in ServiceNow by 2.1% in the first quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock valued at $1,792,963,000 after acquiring an additional 67,385 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in ServiceNow by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 3,082,765 shares of the information technology services provider’s stock valued at $1,995,048,000 after acquiring an additional 106,519 shares during the last quarter. 87.49% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Trading Up 1.0 %
Shares of NYSE NOW opened at $474.88 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day moving average price is $462.03 and its 200-day moving average price is $486.60. ServiceNow, Inc. has a fifty-two week low of $406.47 and a fifty-two week high of $707.60. The company has a market cap of $95.93 billion, a price-to-earnings ratio of 516.52, a PEG ratio of 9.57 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 1.72 earnings per share for the current year.
Wall Street Analysts weigh in
Several research firms recently weighed in on NOW. Morgan Stanley reduced their price target on ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Citigroup decreased their price objective on ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. BMO Capital Markets reduced their price objective on ServiceNow from $595.00 to $520.00 in a research report on Friday, July 15th. Credit Suisse Group decreased their price objective on ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Finally, Barclays cut their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $598.84.
Insiders Place Their Bets
In other ServiceNow news, insider Nicholas Tzitzon sold 2,822 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $438.75, for a total transaction of $1,238,152.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $438.75, for a total transaction of $1,238,152.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, General Counsel Russell S. Elmer sold 4,812 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $438.99, for a total value of $2,112,419.88. Following the sale, the general counsel now directly owns 9,293 shares in the company, valued at approximately $4,079,534.07. The disclosure for this sale can be found here. Insiders sold 30,256 shares of company stock valued at $14,019,372 over the last ninety days. 0.28% of the stock is owned by company insiders.
ServiceNow profile
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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers 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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