The Trust Co. of Vermont bought a new position in ServiceNow, Inc. (NYSE:NOW – Get Rating) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 201 shares of the information technology services provider’s stock, valued at approximately $96,000.
Several other institutional investors have also recently made changes to their positions in the company. Raised by Vanguard Group Inc. its stake 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 acquiring an additional 306,106 shares in the last quarter. Raised by BlackRock Inc. its stake in shares of ServiceNow by 0.4% in the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $10,509,544,000 after acquiring an additional 65,623 shares in the last quarter. Polen Capital Management LLC grew its stake in shares of ServiceNow by 2.1% in the 1st quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock valued at $1,792,963,000 after acquiring an additional 67,385 shares during the last quarter. Capital International Investors grew its stake 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 acquiring an additional 491,835 shares in the last quarter. Finally, Sands Capital Management LLC grew its stake in shares of ServiceNow by 3.3% in the 1st quarter. Sands Capital Management LLC now owns 2,735,070 shares of the information technology services provider’s stock valued at $1,523,133,000 after acquiring an additional 87,874 shares in the last quarter. Institutional investors own 87.49% of the company’s stock.
Internal Activity
In other news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In related news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction 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 sale, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, General Counsel Russell S. Elmer sold 4,812 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $438.99, for a total value of $2,112,419.88. Following the completion of the sale, the general counsel now directly owns 9,293 shares of the company’s stock, valued at approximately $4,079,534.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,922 shares of company stock valued at $15,146,557. 0.28% of the stock is currently owned by company insiders.
Changes in Analyst Ratings
NOW has been the subject of several research analyst reports. Truist Financial cut their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. BMO Capital Markets reduced their price target on shares of ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. Morgan Stanley cut their price target on shares of ServiceNow from $594.00 to $575.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Moffett Nathanson initiated coverage on shares of ServiceNow in a report on Thursday, September 22nd. They issued a “hold” rating and a $553.00 target price on the stock. Finally, Piper Sandler cut their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $593.29.
SerjisoNow Stock is down 2.0%
Shares of NYSE NOW opened at $377.61 on Friday. ServiceNow, Inc. had a one-year low of $367.71 and a one-year high of $707.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s 50-day simple moving average is $447.25 and its two-hundred-day simple moving average is $472.86. The stock has a market capitalization of $76.28 billion, a P/E ratio of 414.96, a PEG ratio of 7.85 and a beta of 0.94.
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 in the quarter, compared to analyst estimates of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. In the same quarter last year, the company posted $0.38 earnings per share. As a group, analysts expect ServiceNow, Inc. to post of 1.72 EPS for the current fiscal year.
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.
Further Reading
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