Strategic Wealth Partners Ltd reduced its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 6.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,058 shares of the information technology services provider’s stock after selling 139 shares during the quarter. The holdings of Strategic Wealth Partners Ltd. in ServiceNow were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Chilton Capital Management LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at $25,000. OLD Second National Bank of Aurora purchased a new stake in shares of ServiceNow in the 1st quarter valued at $28,000. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow in the 1st quarter valued at $29,000. Delos Wealth Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at $40,000. Finally, GoalVest Advisory LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at $43,000. 87.49% of the stock is owned by institutional investors.
ServiceNow Price Performance
ServiceNow stock opened at $457.49 on Thursday. The business’s 50-day simple moving average is $461.00 and its 200-day simple moving average is $485.63. The stock has a market cap of $92.41 billion, a price-to-earnings ratio of 502.74, a P/E/G ratio of 9.57 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $406.47 and a 12-month high of $707.60. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35.
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 (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. As a group, research analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current year.
ServiceNow Insider Activity
In other ServiceNow news, CFO Gina Mastantuono sold 4,262 shares of the company’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 transaction, the chief financial officer now owns 4,262 shares in the company, valued at $1,871,444.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the transaction, the director now owns 33,600 shares in the company, valued at $16,699,536. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Gina Mastantuono sold 4,262 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $439.10, for a total value of $1,871,444.20. Following the transaction, the chief financial officer now owns 4,262 shares in the company, valued at approximately $1,871,444.20. The disclosure for this sale can be found here. Insiders have sold a total of 30,256 shares of company stock valued at $14,019,372 over the last 90 days. Insiders own 0.28% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Royal Bank of Canada reduced their price target on shares of ServiceNow from $670.00 to $610.00 in a report on Monday, July 18th. JMP Securities reduced their price target on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a report on Thursday, July 28th. Truist Financial reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Canaccord Genuity Group cut their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Finally, KeyCorp cut 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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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