Steward Partners Investment Advisory LLC lowered its holdings in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 0.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,041 shares of the information technology services provider’s stock after selling 120 shares during the period. Steward Partners Investment Advisory LLC’s holdings in ServiceNow were worth $8,933,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Chilton Capital Management LLC acquired a new position in the ServiceNow shares in the fourth quarter valued at approximately $ 25,000. AHL Investment Management Inc. acquired a new position at ServiceNow in the 4th quarter worth approximately $ 35,000. Lee Financial Co increased its holdings in ServiceNow by 671.4% in the 4th quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 35,000 after acquiring an additional 47 shares in the last quarter. Delos Wealth Advisors LLC acquired a new position in ServiceNow in the 4th quarter worth approximately $ 40,000. Finally, NuWave Investment Management LLC acquired a new position in ServiceNow in the 1st quarter worth approximately $ 52,000. Institutional investors and hedge funds own 87.20% of the company’s stock.
Insiders Place Their Bets
In other ServiceNow news, Director Teresa Briggs sold 932 shares of the firm’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $ 490.26, for a total transaction of $ 456,922.32. Following the sale, the director now directly owns 707 shares of the company’s stock, valued at approximately $346,613.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, available through the SEC website. In other news, COO Chirantan Jitendra Desai sold 7,000 shares of the stock in a transaction dated Friday, May 27. The shares were sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the transaction, the chief operating officer now directly owns 38,980 shares in the company, valued at approximately $ 18,613,729.60. The sale was disclosed in a legal filing with the SEC, available at this hyperlink. Also, Director Teresa Briggs sold 932 shares of the firm’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $ 490.26, for a total transaction of $ 456,922.32. Following the completion of the transaction, the director now owns 707 shares in the company, valued at approximately $346,613.82. The disclosure for this sale can be found here. Insiders have sold 17,577 shares of the company’s stock worth $ 8,503,327 over the past ninety days. Insiders own 0.28% of the company’s stock.
ServiceNow Price Performance
NYSE NOW shares opened at $ 435.94 on Wednesday. The stock has a market cap of $ 87.39 billion, a price-to-earnings ratio of 396.31, a PEG ratio of 8.72 and a beta of 1.03. ServiceNow, Inc. has a 52 -week low of $ 406.47 and a 52 -week high of $ 707.60. The company’s 50-day moving average price is $ 461.32 and its 200-day moving average price is $ 513.21. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 EPS for the quarter, beating analysts ’consensus estimates of $ 0.34 by $ 0.13. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company had revenue of $ 1.72 billion for the quarter, compared to analysts ’expectations of $ 1.70 billion. In the same period last year, the company earned $ 0.50 EPS. The company’s revenue rose 26.6% on a year-on-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 1.71 earnings per share for the current financial year.
Analysts Set New Price Target
Several research analysts commented on NOW shares. StockNews.com began coverage of ServiceNow shares in a report on Thursday, March 31st. They set a “hold” rating for the company. BMO Capital Markets lowered their target price on ServiceNow shares from $ 595.00 to $ 520.00 in a report on Friday, July 15th. Exane BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 29th. KeyCorp reduced their price target on ServiceNow shares from $ 692.00 to $ 613.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. Finally, Piper Sandler reduced their price target on ServiceNow shares from $ 650.00 to $ 600.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. Two research analysts rated the stock with a sell rating, two assigned a hold rating and twenty-seven gave the stock a buy rating. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $ 632.97.
ServiceNow profile
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ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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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