AdvisorNet Financial Inc lowered its position in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349 shares of the information technology services provider’s stock after selling 30 shares during the quarter. AdvisorNet Financial Inc’s holdings in ServiceNow were worth $166,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NOW. Chilton Capital Management LLC purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $25,000. OLD Second National Bank of Aurora bought a new stake in shares of ServiceNow in the 1st quarter valued at approximately $28,000. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $29,000. Delos Wealth Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at about $40,000. Finally, GoalVest Advisory LLC bought a new stake in shares of ServiceNow in the 1st quarter valued at approximately $43,000. Institutional investors own 87.49% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Cowen dropped their price objective on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Morgan Stanley dropped their price objective on shares of ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Barclays dropped their price objective on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Finally, KeyCorp lowered their price objective on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Two 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. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $598.84.
ServiceNow Stock Drops 3.3%
NOW stock opened at $411.20 on Wednesday. ServiceNow, Inc. has a 52-week low of $406.47 and a 52-week high of $707.60. The company’s 50-day simple moving average is $456.37 and its 200-day simple moving average is $481.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $83.06 billion, a P/E ratio of 451.87, a P/E/G ratio of 8.65 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating ) last released its quarterly earnings results on Wednesday, July 27. 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 business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. In the same quarter last year, the business earned $0.38 earnings per share. The company’s revenue increased by 24.3% compared to the same quarter last year. As a group, equities research analysts expect ServiceNow, Inc. will post 1.72 EPS for the current year.
Internal Activity
In other news, General Counsel Russell S. Elmer sold 4,812 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the sale, the general counsel now owns 9,293 shares in the company, valued at $4,079,534.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 178 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $502.00, for a total value of $89,356.00. Following the transaction, the general counsel now owns 9,293 shares in the company, valued at approximately $4,665,086. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 4,812 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were 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 in the company, valued at approximately $4,079,534.07. The disclosure for this sale can be found here. Insiders have sold 32,922 shares of company stock valued at $15,146,557 over the last 90 days. 0.28% of the stock is owned by company insiders.
About ServiceNow
(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.
Featured Articles
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.