FinTrust Capital Advisors LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 21.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365 shares of the information technology services provider’s stock after selling 98 shares during the period. FinTrust Capital Advisors LLC’s holdings in ServiceNow were worth $163,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. OLD Second National Bank of Aurora acquired a new stake in ServiceNow during the 1st quarter valued at $28,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow in the 1st quarter valued at $29,000. GoalVest Advisory LLC acquired a new stake in ServiceNow in the 1st quarter valued at $43,000. Core Alternative Capital increased its holdings in ServiceNow by 310.5% in the 1st quarter. Core Alternative Capital now owns 78 shares of the information technology services provider’s stock valued at $43,000 after buying an additional 59 shares in the last quarter. Finally, Worth Asset Management LLC acquired a new stake in ServiceNow in the 1st quarter valued at $45,000. 87.49% of the stock is currently owned by institutional investors and hedge funds.
Internal Activity
In other news, General Counsel Russell S. Elmer sold 4,812 shares of ServiceNow 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 sale, the general counsel now owns 9,293 shares of the company’s stock, valued at $4,079,534.07. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. In related news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $465.86, for a total transaction of $3,074,676.00. Following the transaction, the director now owns 33,000 shares in the company, valued at $15,373,380. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 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. 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
Shares of NYSE NOW opened at $401.21 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $444.23 and its two-hundred-day moving average price is $467.82. ServiceNow, Inc. has a 52-week low of $367.71 and a 52-week high of $707.60. The stock has a market capitalization of $81.04 billion, a P/E ratio of 440.89, a P/E/G ratio of 8.50 and a beta of 0.98.
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 for the quarter, beating the analysts’ consensus estimates of $0.12 by $0.08. The company 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%. Business revenue for the quarter was up 24.3% compared to the same quarter last year. In the same quarter last year, the company posted $0.38 earnings per share. As a group, sell-side analysts predict that ServiceNow, Inc. will post 1.73 earnings per share for the current year.
Analysts Set New Price Targets
Several brokerages have recently weighed in on NOW. Barclays dropped their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Mizuho dropped their target price on ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Cowen dropped their target price on ServiceNow from $590.00 to $580.00 and set a an “outperform” rating for the company in a research note on Thursday, July 28th. BMO Capital Markets dropped their price target on ServiceNow from $595.00 to $520.00 in a research note on Friday, July 15th. Finally, Truist Financial dropped their price target on ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Two 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $593.29.
ServiceNow Company 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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