Alpha Cubed Investments LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 19.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 702 shares of the information technology services provider’s stock after buying an additional 115 shares during the period. Alpha Cubed Investments LLC’s holdings in ServiceNow were worth $334,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Chilton Capital Management LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at $25,000. OLD Second National Bank of Aurora acquired a new position in shares of ServiceNow during the 1st quarter valued at approximately $28,000. High Net Worth Advisory Group LLC acquired a new position in shares of ServiceNow during the 1st quarter valued at approximately $29,000. San Luis Wealth Advisors LLC acquired a new position in shares of ServiceNow during the 1st quarter valued at approximately $49,000. Finally, GoalVest Advisory LLC acquired a new stake in ServiceNow during the 1st quarter valued at approximately $43,000. 87.49% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Trading was down 2.0%
NOW stock opened at $377.61 on Monday. The stock has a market cap of $76.28 billion, a price-to-earnings ratio of 414.96, a PEG ratio of 7.68 and a beta of 0.98. The business’s 50-day moving average is $447.25 and its 200-day moving average is $472.20. ServiceNow, Inc. has a 12-month low of $367.71 and a 12-month 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 0.35.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. In the same quarter last year, the company earned $0.38 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
ServiceNow Insider Transactions
In other news, General Counsel Russell S. Elmer sold 2,666 shares of ServiceNow stock in a transaction on Monday, September 19th. The stock was sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the completion of the transaction, the general counsel now owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. In related news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the sale, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, General Counsel Russell S. Elmer sold 2,666 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $422.80, for a total value of $1,127,184.80. Following the transaction, the general counsel now owns 6,627 shares of the company’s stock, valued at $2,801,895.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,922 shares of company stock valued at $15,146,557. Company insiders own 0.28% of the company’s stock.
Wall Street Analysts weigh in
Several equities analysts recently commented on the company. Sanford C. Bernstein began coverage on ServiceNow in a research note on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price for the company. Barclays dropped their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Piper Sandler reduced their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. 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. Finally, Mizuho cut their price target on ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $593.29.
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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