Morse Asset Management Inc decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,538 shares of the information technology services provider’s stock after selling 55 shares during the quarter. Morse Asset Management Inc’s holdings in ServiceNow were worth $856,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of NOW. SevenOneSeven Capital Management increased its stake in 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 acquiring an additional 18 shares during the last quarter. The Means Investment CO. Inc. raised its holdings in shares of ServiceNow by 0.6% in 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 lifted its position in ServiceNow by 1.4% during 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 buying an additional 18 shares in the last quarter. Financial Architects Inc boosted its stake in ServiceNow by 5.9% during the first quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after buying an additional 21 shares during the last quarter. Finally, Equitable Holdings Inc. raised its holdings in ServiceNow by 4.1% in the 4th quarter. Equitable Holdings Inc. now owns 565 shares of the information technology services provider’s stock valued at $367,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 87.49% of the company’s stock.
ServiceNow Stock Up 0.9 %
NOW stock opened at $434.51 on Monday. The company’s 50 day moving average price is $468.08 and its 200 day moving average price is $493.68. The company has a market capitalization of $87.77 billion, a price-to-earnings ratio of 477.48, a PEG ratio of 8.84 and a beta of 0.94. ServiceNow, Inc. has a fifty-two week low of $406.47 and a fifty-two week high of $707.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 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 for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts expect that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
ServiceNow Insider Activity
In other ServiceNow news, insider Lara Caimi sold 977 shares of ServiceNow stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $514.96, for a total transaction of $503,115.92. Following the completion of the sale, the insider now directly owns 43 shares of the company’s stock, valued at approximately $22,143.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $438.75, for a total value of $1,238,152.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lara Caimi sold 977 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $514.96, for a total transaction of $503,115.92. Following the completion of the sale, the insider now directly owns 43 shares of the company’s stock, valued at $22,143.28. The disclosure for this sale can be found here. Insiders sold 30,963 shares of company stock worth $14,374,230 in the last quarter. 0.28% of the stock is owned by insiders.
Wall Street Analysts weigh in
A number of research analysts have recently commented on the company. Cowen decreased their price target on ServiceNow from $590.00 to $580.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Morgan Stanley reduced their price target on shares of ServiceNow from $594.00 to $575.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. BMO Capital Markets dropped their price target on shares of ServiceNow from $595.00 to $520.00 in a research note on Friday, July 15th. Sanford C. Bernstein assumed coverage on shares of ServiceNow in a research report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price on the stock. Finally, Canaccord Genuity Group dropped their price objective on ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $598.84.
ServiceNow 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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