Kestra Private Wealth Services LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 20.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,522 shares of the information technology services provider’s stock after selling 386 shares during the period. Kestra Private Wealth Services LLC’s holdings in ServiceNow were worth $848,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in NOW. Edgewood Management LLC acquired a new position in ServiceNow in the 1st quarter valued at about $1,515,281,000. Norges Bank acquired a new position in ServiceNow during the 4th quarter valued at approximately $1,117,096,000. Fisher Asset Management LLC raised its position in ServiceNow by 57.9% in the 1st quarter. Fisher Asset Management LLC now owns 1,413,079 shares of the information technology services provider’s stock valued at $786,930,000 after acquiring an additional 518,349 shares during the period. Capital International Investors boosted its holdings in ServiceNow by 18.1% in the 1st 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 in the last quarter. Finally, Vanguard Group Inc. raised. its holdings in ServiceNow by 1.9% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 87.49% of the company’s stock.
ServiceNow fell 2.2%
NOW stock opened at $425.80 on Friday. The company has a market cap of $86.01 billion, a price-to-earnings ratio of 467.91, a PEG ratio of 8.86 and a beta of 0.94. 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 business has a fifty-day simple moving average of $457.68 and a 200-day simple moving average of $483.42. ServiceNow, Inc. has a 52 week low of $406.47 and a 52 week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27. The information technology services provider reported $0.20 EPS for the quarter, topping the consensus estimates of analysts $0.12 of $0.08. The business had revenue of $1.75 billion in the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 1.72 EPS for the current year.
ServiceNow Insider Transactions
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 completion of the sale, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The transaction was disclosed in a legal filing with the SEC, available at this link. In related news, CFO Gina Mastantuono sold 4,262 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $439.10, for a total transaction of $1,871,444.20. Following the completion of the sale, the chief financial officer now directly owns 4,262 shares of the company’s stock, valued at approximately $1,871,444.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the director now directly owns 33,600 shares of the company’s stock, valued at $16,699,536. The disclosure for this sale can be found here. Insiders have sold a total of 30,256 shares of company stock valued at $14,019,372 over the last ninety days. Insiders own 0.28% of the company’s stock.
Analyst Upgrades and Downgrades
NOW has been the subject of several analyst reports. Wells Fargo & Company dropped their price objective on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Royal Bank of Canada dropped their price objective on ServiceNow from $670.00 to $610.00 in a report on Monday, July 18th. Credit Suisse Group dropped their price objective on ServiceNow from $700.00 to $650.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Truist Financial dropped their price objective on ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Stifel Nicolaus lowered their price objective on ServiceNow from $650.00 to $550.00 in a report on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $598.84.
ServiceNow 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.