Walleye Capital LLC reduced its position in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 81.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,285 shares of the information technology services provider’s stock after selling 5,799 shares during the quarter. Walleye Capital LLC’s holdings in ServiceNow were worth $716,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at $25,000. OLD Second National Bank of Aurora purchased a new stake in ServiceNow in the 1st quarter valued at about $28,000. High Net Worth Advisory Group LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $29,000. Delos Wealth Advisors LLC purchased a new stake in ServiceNow during the 4th quarter valued at approximately $40,000. Finally, GoalVest Advisory LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 87.49% of the company’s stock.
Changes in Analyst Ratings
Several brokerages have weighed in on NOW. Sanford C. Bernstein initiated coverage on ServiceNow in a report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price on the stock. 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 report on Thursday, July 28th. 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. Truist Financial cut their price target on ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Morgan Stanley lowered their price objective on ServiceNow from $594.00 to $575.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $598.84.
ServiceNow Insider Transactions
In other 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 transaction of $3,280,266.00. Following the sale, the director now owns 33,600 shares in the company, valued at $16,699,536. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow 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 transaction, the director now owns 33,600 shares in the company, valued at $16,699,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available through this hyperlink. Also, CFO Gina Mastantuono sold 4,262 shares of ServiceNow stock in a transaction on Monday, August 29th. The shares were sold at an average price of $439.10, for a total value of $1,871,444.20. Following the completion of 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 sold 32,922 shares of company stock worth $15,146,557 in the last quarter. 0.28% of the stock is currently owned by insiders.
ServiceNow Price Performance
NOW stock opened at $411.20 on Wednesday. ServiceNow, Inc. has a 52-week low of $406.47 and a 52-week high of $707.60. The stock’s fifty day simple moving average is $456.37 and its 200-day simple moving average is $481.28. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $83.06 billion, a price-to-earnings ratio of 451.87, a price-to-earnings-growth ratio of 8.67 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings data 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. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. In the same quarter last year, the company earned $0.38 earnings per share. Business revenue increased 24.3% on a year-over-year basis. Equities research analysts expect ServiceNow, Inc. will post 1.72 EPS for the current year.
ServiceNow Company Profile
(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.