Raised by B. Riley Wealth Management Inc. its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614 shares of the information technology services provider’s stock after acquiring an additional 27 shares during the quarter. The holdings of B. Riley Wealth Management Inc. in ServiceNow were worth $342,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in NOW. Chilton Capital Management LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $25,000. OLD Second National Bank of Aurora acquired a new position in shares of ServiceNow during the first quarter valued at approximately $28,000. Lee Financial Co raised its holdings in shares of ServiceNow by 671.4% during the fourth quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 47 shares during the last quarter. Delos Wealth Advisors LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $40,000. Finally, GoalVest Advisory LLC acquired a new position in shares of ServiceNow in the first quarter valued at about $43,000. Institutional investors and hedge funds own 87.20% of the company’s stock.
ServiceNow Stock Drops 2.7%
Shares of NYSE NOW opened at $476.26 on Monday. The stock has a market cap of $96.20 billion, a P/E ratio of 523.36, a PEG ratio of 9.69 and a beta of 0.94. 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, Inc. has a 12-month low of $406.47 and a 12-month high of $707.60. The business’s fifty day simple moving average is $467.79 and its 200-day simple moving average is $500.32.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. As a group, equities analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, General Counsel Russell S. Elmer sold 4,812 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was 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 $4,079,534.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ServiceNow news, General Counsel Russell S. Elmer sold 4,812 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was 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 $4,079,534.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lara Caimi sold 726 shares of the firm’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $474.48, for a total value of $344,472.48. Following the completion of the sale, the insider now owns 99 shares in the company, valued at $46,973.52. The disclosure for this sale can be found here. Insiders have sold a total of 34,427 shares of company stock valued at $16,189,898 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on NOW shares. Guggenheim started coverage on ServiceNow in a research report on Friday, August 12th. They issued a “neutral” rating and a $510.00 target price for the company. Canaccord Genuity Group dropped their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Cowen dropped their price target on ServiceNow from $725.00 to $695.00 in a research report on Thursday, April 28th. Stifel Nicolaus dropped their price target on ServiceNow from $650.00 to $550.00 in a research report on Wednesday, May 25th. Finally, Credit Suisse Group dropped their price target on ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Two equities 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, the company has an average rating of “Moderate Buy” and a consensus price target of $598.84.
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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