American Trust boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 30.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,955 shares of the information technology services provider’s stock after acquiring an additional 686 shares during the period. American Trust’s holdings in ServiceNow were worth $1,646,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of NOW. SevenOneSeven Capital Management lifted its position in shares of ServiceNow by 3.0% during the 4th quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock valued at $403,000 after buying an additional 18 shares during the last quarter. Raised by Means Investment CO. Inc. its holdings in shares of ServiceNow by 0.6% during the fourth quarter. The Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock worth $1,845,000 after buying an additional 18 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of ServiceNow by 1.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock valued at $854,000 after acquiring an additional 18 shares during the period. Financial Architects Inc boosted its position in shares of ServiceNow by 5.9% in the first quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after acquiring an additional 21 shares during the period. Finally, Equitable Holdings Inc. raised its stake in shares of ServiceNow by 4.1% in the fourth quarter. Equitable Holdings Inc. now owns 565 shares of the information technology services provider’s stock valued at $367,000 after acquiring an additional 22 shares in the last quarter. 87.49% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on NOW. Wells Fargo & Company reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Truist Financial reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. BMO Capital Markets reduced their price target on ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. Piper Sandler decreased their price objective on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Finally, Citigroup cut their price target on ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $598.84.
ServiceNow Price Performance
ServiceNow stock opened at $435.55 on Friday. 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 company has a market cap of $87.98 billion, a P/E ratio of 478.63, a P/E/G ratio of 9.31 and a beta of 0.94. The business’s fifty day moving average is $460.28 and its two hundred day moving average is $485.43. ServiceNow, Inc. has a 52 week low of $406.47 and a 52 week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping 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%. Business revenue increased 24.3% on a year-over-year basis. In the same quarter last year, the company earned $0.38 earnings per share. Equities research analysts predict that ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Internal Activity
In other news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction 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 transaction, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Gina Mastantuono sold 4,262 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $439.10, for a total transaction of $1,871,444.20. Following the transaction, the chief financial officer now owns 4,262 shares of the company’s stock, valued at $1,871,444.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the transaction, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The disclosure for this sale can be found here. Insiders have sold 30,256 shares of company stock valued at $14,019,372 over the last 90 days. 0.28% of the stock is owned by company insiders.
ServiceNow Company Profile
(Get Rating)
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.
See also
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Get Rating).
Receive News and Ratings for ServiceNow Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ServiceNow and related companies with our FREE daily email newsletter of MarketBeat.com.