Wedmont Private Capital raised its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,133 shares of the information technology services provider’s stock after purchasing an additional 75 shares during the period. Wedmont Private Capital’s holdings in ServiceNow were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Hancock Whitney Corp lifted its holdings in shares of ServiceNow by 3.3% in the first quarter. Hancock Whitney Corp now owns 1,977 shares of the information technology services provider’s stock valued at $1,101,000 after buying an additional 64 shares during the period. Prospera Financial Services Inc acquired a new position in shares of ServiceNow during the first quarter valued at $996,000. Walleye Capital LLC raised its holdings in shares of ServiceNow by 54.8% during the fourth quarter. Walleye Capital LLC now owns 7,084 shares of the information technology services provider’s stock valued at $4,598,000 after purchasing an additional 2,507 shares during the period. Exane Derivatives lifted its holdings in shares of ServiceNow by 7.0% in the first quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock valued at $806,000 after purchasing an additional 95 shares during the period. Finally, Natixis Advisors LP boosted its holdings in shares of ServiceNow by 124.4% in the first quarter. Natixis Advisors LP now owns 183,173 shares of the information technology services provider’s stock valued at $102,007,000 after buying an additional 101,544 shares during the period. 87.49% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts’ Growth Forecast
Several research analysts recently weighed in on the company. Stifel Nicolaus cut their price target on ServiceNow from $650.00 to $550.00 in a research note on Wednesday, May 25th. Guggenheim assumed coverage on ServiceNow in a research note on Friday, August 12th. They set a “neutral” rating and a $510.00 target price for the company. KeyCorp reduced their price target on ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Barclays reduced 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. Finally, Piper Sandler reduced their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $598.84.
ServiceNow Insider Transactions
In related news, insider Paul John Smith sold 130 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $502.81, for a total value of $65,365.30. Following the sale, the insider now owns 2,157 shares of the company’s stock, valued at approximately $1,084,561.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, General Counsel Russell S. Elmer sold 178 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $502.00, for a total value of $89,356.00. Following the sale, the general counsel now owns 9,293 shares of the company’s stock, valued at approximately $4,665,086. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul John Smith sold 130 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $502.81, for a total value of $65,365.30. Following the completion of the sale, the insider now directly owns 2,157 shares in the company, valued at approximately $1,084,561.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,256 shares of company stock valued at $14,019,372. 0.28% of the stock is owned by corporate insiders.
ServiceNow Stock Drops 2.2%
Shares of NOW stock opened at $425.80 on Monday. The stock’s 50 day simple moving average is $457.68 and its 200 day simple moving average is $482.70. 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, Inc. has a twelve month low of $406.47 and a twelve month high of $707.60. The company has a market capitalization of $86.01 billion, a price-to-earnings ratio of 467.91, a PEG ratio of 8.67 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion for 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%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current year.
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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