Downloaded by Washington Trust Advisors Inc. its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 661 shares of the information technology services provider’s stock after selling 44 shares during the quarter. Holdings by Washington Trust Advisors Inc. in ServiceNow were worth $314,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. The Vanguard Group Inc. grew its position in ServiceNow by 1.9% during the first 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 buying an additional 306,106 shares in the last quarter. BlackRock Inc.’s position grew. in ServiceNow by 0.4% during the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock valued at $10,509,544,000 after buying an additional 65,623 shares in the last quarter. Polen Capital Management LLC grew its position in ServiceNow by 2.1% during the first 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 buying an additional 67,385 shares during the last quarter. Capital International Investors grew its position in ServiceNow by 18.1% in the first 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 purchasing an additional 491,835 shares in the last quarter. Finally, Sands Capital Management LLC grew its position in ServiceNow by 3.3% during the first 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 buying an additional 87,874 shares during the last quarter. Institutional investors and hedge funds own 87.49% of the company’s stock.
Analyst Upgrades and Downgrades
NOW has been the subject of several research analyst reports. Cowen dropped their price objective on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. JMP Securities dropped their price objective on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. Credit Suisse Group reduced their price target on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Citigroup reduced their price target on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, Mizuho reduced their price target on shares of ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a research 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 given a buy rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $593.29.
ServiceNow Price Performance
NYSE:NOW opened at $420.58 on Thursday. The stock has a market cap of $84.96 billion, a P/E ratio of 462.18, a PEG ratio of 8.36 and a beta of 0.98. ServiceNow, Inc. had a one-year low of $367.71 and a one-year high of $707.60. The company has a fifty day moving average price of $445.50 and a 200 day moving average price of $469.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion in the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. Analysts expect ServiceNow, Inc. will post 1.73 earnings per share for the current year.
Internal Activity
In other news, CFO Gina Mastantuono sold 4,262 shares of the 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 sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Gina Mastantuono sold 4,262 shares of the 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 4,812 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the completion of the transaction, the general counsel now 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 26,322 shares of company stock valued at $11,866,291. 0.28% of the stock is currently owned by corporate insiders.
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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