Wealth Enhancement Advisory Services LLC raised its position in the shares of ServiceNow, Inc. (NYSE: NOW – Get Rating) by 6.9% in the first quarter, HoldingsChannel.com reports. The company owns 2,277 shares of the information technology services provider’s stock after buying an additional 146 shares in the quarter. Wealth Enhancement Advisory Services LLC’s holdings in ServiceNow were worth $ 1,308,000 at the end of the most recent quarter.
Some other large investors have recently added or reduced their stakes to NOW. Norges Bank acquired a new stake in ServiceNow in the 4th quarter worth approximately $ 1,117,096,000. Allspring Global Investments Holdings LLC acquired a new stake in ServiceNow in the 4th quarter worth approximately $ 400,884,000. Fisher Asset Management LLC raised its position on ServiceNow by 164.8% in the 4th quarter. Fisher Asset Management LLC now owns 894,730 shares of the information technology services provider’s stock worth $ 580,778,000 after purchasing an additional 556,871 shares during the period. TD Asset Management Inc. raised its position on ServiceNow by 84.7% in the 4th quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock worth $ 783,606,000 after purchasing an additional 553,517 shares during the period. Finally, Brown Advisory Inc. its position in ServiceNow by 16.6% in the 4th quarter. Brown Advisory Inc. now owns 2,480,958 shares of the information technology services provider’s stock worth $ 1,610,414,000 after purchasing an additional 352,766 shares during the period. 87.20% of the stock is owned by institutional investors and hedge funds.
The NYSE NOW opened at $ 473.44 on Wednesday. The business’s fifty day moving average is $ 463.97 and its 200-day moving average is $ 531.69. ServiceNow, Inc. has a person low of $ 406.47 and a person high of $ 707.60. The stock has a market capitalization of $ 94.91 billion, a price-to-earnings ratio of 430.40, a PEG ratio of 10.22 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, current ratio of 1.12 and quick ratio of 1.12.
ServiceNow (NYSE: NOW-Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 revenue per share for the quarter, topping the consensus estimate of $ 0.34 of $ 0.13. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $ 1.72 billion in the quarter, compared to analyst estimates of $ 1.70 billion. In the same quarter last year, the company posted $ 0.50 EPS. The company’s revenue for the quarter rose 26.6% on a year-over-year basis. Research analysts expect ServiceNow, Inc. will post 1.73 EPS for the current financial year.
NOW has been the subject of several recent analyst reports. Credit Suisse Group reduced their target price on ServiceNow shares from $ 800.00 to $ 700.00 in a research report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft cut their price target on ServiceNow from $ 700.00 to $ 680.00 in a report on Thursday, April 28th. Exane BNP Paribas cut ServiceNow from a “neutral” rating to an “underperform” rating in a report on Tuesday, March 29th. Wells Fargo & Company assumed coverage on ServiceNow in a report on Wednesday, May 18th. They gave it a “overweight” rating and a $ 600.00 price target on the stock. Finally, Truist Financial cut their price target on ServiceNow from $ 700.00 to $ 600.00 in a report on Tuesday, May 10th. Two research analysts rated the stock with a sell rating, two assigned a hold rating and twenty-five gave a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $ 640.70.
In other ServiceNow news, CFO Gina Mastantuono sold 193 shares of ServiceNow stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $ 525.00, for a total transaction of $ 101,325.00. Following the completion of the transaction, the chief financial officer now owns 4,011 shares of the company’s stock, valued at approximately $ 2,105,775. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. Also, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $ 446.04, for a total value of $ 55,755.00. Following the transaction, the insider now directly owns 1,446 shares of the company’s stock, valued at approximately $ 644,973.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,770 shares of the company’s stock worth $ 8,999,332. 0.28% of the stock is currently owned by insiders.
About ServiceNow (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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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