Vetamer Capital Management LP reduced its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,003 shares of the information technology services provider’s stock after selling 1,565 shares during the period. ServiceNow makes up 4.3% of Vetamer Capital Management LP’s investment portfolio, making the stock its 10th largest holding. Vetamer Capital Management LP’s holdings in ServiceNow were worth $6,684,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in NOW. Acadian Asset Management LLC boosted its holdings in shares of ServiceNow by 114.5% during the 4th quarter. Acadian Asset Management LLC now owns 8,490 shares of the information technology services provider’s stock valued at $5,508,000 after purchasing an additional 4,532 shares in the last quarter. Confluence Wealth Services Inc. acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $100,000. Raised by Probity Advisors Inc. its position in shares of ServiceNow by 5.2% during the fourth quarter. Probity Advisors Inc. now owns 529 shares of the information technology services provider’s stock valued at $343,000 after buying an additional 26 shares during the period. Ropes Wealth Advisors LLC bought a new stake in ServiceNow during the 4th quarter valued at $240,000. Finally, Covestor Ltd bought a new stake in ServiceNow in the 4th quarter valued at $87,000. 87.49% of the stock is currently owned by institutional investors.
ServiceNow Insider Transactions
In related news, CFO Gina Mastantuono sold 4,262 shares of the company’s stock in a transaction on Monday, August 29th. The stock was 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 owns 4,262 shares in the company, valued at $1,871,444.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 4,262 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was 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 owns 4,262 shares of the company’s stock, valued at $1,871,444.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul John Smith sold 130 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $502.81, for a total value of $65,365.30. Following the completion of the transaction, the insider now directly owns 2,157 shares of the company’s stock, valued at approximately $1,084,561.17. The disclosure for this sale can be found here. Insiders sold 30,256 shares of company stock worth $14,019,372 in the last quarter. 0.28% of the stock is currently owned by insiders.
ServiceNow Trading Up 1.0 %
ServiceNow stock opened at $474.88 on Monday. ServiceNow, Inc. has a 12 month low of $406.47 and a 12 month high of $707.60. The business’s fifty day simple moving average is $462.03 and its two hundred day simple moving average is $486.60. 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 company has a market capitalization of $95.93 billion, a price-to-earnings ratio of 516.52, a price-to-earnings-growth ratio of 9.57 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. 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 business earned $0.38 earnings per share. The company’s revenue rose 24.3% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Changes in Analyst Ratings
A number of equities research analysts recently commented on NOW shares. Cowen dropped their price target on ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. JMP Securities dropped their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a research report on Thursday, July 28th. Stifel Nicolaus cut their price target on ServiceNow from $650.00 to $550.00 in a research report on Wednesday, May 25th. Morgan Stanley reduced their price target on ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Finally, Barclays reduced their price target on ServiceNow from $560.00 to $495.00 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 given a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $598.84.
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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