HMS Capital Management LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 42.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 746 shares of the information technology services provider’s stock after acquiring an additional 224 shares during the quarter. HMS Capital Management LLC’s holdings in ServiceNow were worth $355,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Powered by Vanguard Group Inc. its position in shares of ServiceNow by 1.9% in the first 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 buying an additional 306,106 shares during the period. Powered by BlackRock Inc. its position in shares of ServiceNow by 0.4% in the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock valued at $10,509,544,000 after buying an additional 65,623 shares during the period. Polen Capital Management LLC boosted its position in shares of 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 purchasing an additional 67,385 shares during the period. Capital International Investors boosted its position in shares of ServiceNow by 18.1% in the first quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after buying an additional 491,835 shares during the period. Finally, Sands Capital Management LLC boosted its position in shares of ServiceNow by 3.3% in the first quarter. Sands Capital Management LLC now owns 2,735,070 shares of the information technology services provider’s stock valued at $1,523,133,000 after buying an additional 87,874 shares during the period. 87.49% of the stock is currently owned by institutional investors and hedge funds.
Changes in Analyst Ratings
A number of research analysts recently commented on the company. Citigroup reduced their price target on ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, July 28th. KeyCorp reduced their price target on ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Morgan Stanley reduced their price target on ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. BMO Capital Markets reduced their price target on ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. Finally, Piper Sandler reduced their price target on ServiceNow from $600.00 to $550.00 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, 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 target price of $593.29.
Internal Activity
In related news, insider Lara Caimi sold 977 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $514.96, for a total amount of $503,115.92. Following the completion of the transaction, the insider now owns 43 shares in the company, valued at approximately $22,143.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Lara Caimi sold 977 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $514.96, for a total amount of $503,115.92. Following the completion of the transaction, the insider now owns 43 shares in the company, valued at approximately $22,143.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 4,812 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the completion of the transaction, the general counsel now owns 9,293 shares of the company’s stock, valued at approximately $4,079,534.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,322 shares of company stock valued at $11,866,291. Insiders own 0.28% of the company’s stock.
ServiceNow Stock Performance
NYSE:NOW opened at $401.21 on Monday. ServiceNow, Inc. has a 1 year low of $367.71 and a 1 year high of $707.60. The firm has a 50-day moving average of $444.23 and a 200-day moving average of $466.27. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $81.04 billion, a P/E ratio of 440.89, a price-to-earnings-growth ratio of 8.15 and a beta of 0.98.
ServiceNow (NYSE:NOW – Get Rating) last posted 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. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. ServiceNow’s quarterly revenue was up 24.3% compared to the same quarter last year. As a group, sell-side analysts expect ServiceNow, Inc. will post 1.73 EPS for the current fiscal year.
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
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.