EverSource Wealth Advisors LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 85.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 148 shares of the information technology services provider’s stock after purchasing an additional 68 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in ServiceNow were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of NOW. Edgewood Management LLC purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $1,515,281,000. Norges Bank purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $1,117,096,000. Fisher Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 518,349 shares during the last quarter. Capital International Investors lifted its holdings in shares of 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 during the last quarter. Finally, Vanguard Group Inc. lifted. its holdings in shares of 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 during the last quarter. Institutional investors own 87.49% of the company’s stock.
Insider Buying and Selling at ServiceNow
In other news, Director Frederic B. Luddy sold 6,600 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the transaction, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Nicholas Tzitzon sold 2,822 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $438.75, for a total value of $1,238,152.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the transaction, the director now directly owns 33,600 shares in the company, valued at $16,699,536. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,256 shares of company stock valued at $14,019,372. 0.28% of the stock is currently owned by corporate insiders.
ServiceNow Stock Drops 2.2%
NYSE NOW opened at $425.80 on Friday. 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 stock’s 50-day moving average is $457.68 and its two-hundred-day moving average is $483.42. The company has a market capitalization of $86.01 billion, a price-to-earnings ratio of 467.91, a PEG ratio of 8.86 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $406.47 and a 1-year 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 earnings per share for the quarter, beating estimates. of analysts’ consensus 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 quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. Equities analysts predict that ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Wall Street Analysts’ Growth Forecast
A number of analysts recently issued reports on the company. KeyCorp cut their price target on ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. BMO Capital Markets cut their price target on ServiceNow from $595.00 to $520.00 in a research note on Friday, July 15th. UBS Group cut their price target on ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Credit Suisse Group cut their price target on ServiceNow from $700.00 to $650.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Finally, Royal Bank of Canada cut their price target on ServiceNow from $670.00 to $610.00 in a research note on Monday, July 18th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $598.84.
About ServiceNow
(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.
Featured Articles
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.