Triangle Securities Wealth Management grew its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 15.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,063 shares of the information technology services provider’s stock after buying an additional 145 shares during the quarter. Triangle Securities Wealth Management’s holdings in ServiceNow were worth $505,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. SevenOneSeven Capital Management lifted its stake in ServiceNow by 3.0% during the fourth quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock valued at $403,000 after acquiring an additional 18 shares during the period. Raised by Means Investment CO. Inc. its stake in ServiceNow by 0.6% during the fourth quarter. The Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock valued at $1,845,000 after acquiring an additional 18 shares during the period. Rehmann Capital Advisory Group lifted its stake in ServiceNow by 1.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock valued at $854,000 after acquiring an additional 18 shares during the period. Financial Architects Inc raised its stake in ServiceNow by 5.9% during the first quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after acquiring an additional 21 shares during the period. Finally, Equitable Holdings Inc. raised its stake in ServiceNow by 4.1% during the fourth quarter. Equitable Holdings Inc. now owns 565 shares of the information technology services provider’s stock valued at $367,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 87.49% of the company’s stock.
Changes in Analyst Ratings
Several brokerages have commented on NOW. Barclays dropped their target price on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. Wells Fargo & Company dropped their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. JMP Securities dropped their price target on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 28th. Credit Suisse Group dropped their price target on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Finally, BMO Capital Markets lowered their price target on shares of ServiceNow from $595.00 to $520.00 in a research note on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $598.84.
ServiceNow Stock Performance
NYSE:NOW opened at $425.80 on Monday. ServiceNow, Inc. has a 1 year low of $406.47 and a 1 year high of $707.60. The firm’s fifty day simple moving average is $457.68 and its 200 day simple moving average is $482.70. 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 company has a market capitalization of $86.01 billion, a PE ratio of 467.91, a PEG ratio of 8.67 and a beta of 0.94.
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, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. On average, sell-side analysts expect that ServiceNow, Inc. will post 1.72 EPS for the current year.
Internal Activity
In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available on the SEC website. In other ServiceNow news, insider Paul John Smith sold 130 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 2,157 shares of the company’s stock, valued at $1,084,561.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the business’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 completion of the transaction, the director now directly owns 33,600 shares of the company’s stock, valued at $16,699,536. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,256 shares of company stock valued at $14,019,372. Corporate insiders own 0.28% of the company’s stock.
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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