Wealthcare Advisory Partners LLC has upgraded its position to ServiceNow, Inc. (NYSE: NOW-Get Rating) by 69.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The company owns 1,610 shares of the information technology services provider’s stock after buying an additional 662 shares in the quarter. Wealthcare Advisory Partners LLC’s holdings in ServiceNow were valued at $ 897,000 in its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently changed their holdings in the company. Chilton Capital Management LLC bought a new position in shares of ServiceNow in the 4th quarter worth $ 25,000. AHL Investment Management Inc. bought a new position in shares of ServiceNow in the 4th quarter worth $ 35,000. Lee Financial Co raised its position on ServiceNow by 671.4% in the fourth quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 35,000 after buying an additional 47 shares during the period. Delos Wealth Advisors LLC bought a new position in ServiceNow in the fourth quarter worth approximately $ 40,000. Finally, Maryland Capital Advisors Inc. bought a new position in ServiceNow in the fourth quarter worth approximately $ 53,000. 87.20% of the stock is currently owned by institutional investors and hedge funds.
NYSE: NOW shares opened at $ 496.70 on Tuesday. ServiceNow, Inc. has a 12 -month low of $ 406.47 and a 12 -month high of $ 707.60. The stock has a market cap of $ 99.57 billion, a price-to-earnings ratio of 451.55, a PEG ratio of 10.22 and a beta of 1.09. The stock’s 50 day average moving price is $ 464.79 and its 200 day average price is $ 532.10. 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 earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 EPS for the quarter, ahead of the consensus estimate of $ 0.34 of $ 0.13. The company had revenue of $ 1.72 billion for the quarter, compared to analysts ’expectations of $ 1.70 billion. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company’s quarterly revenue rose 26.6% compared to the same quarter last year. In the same quarter last year, the company earned $ 0.50 revenue per share. On average, sell-side analysts expect ServiceNow, Inc. will post 1.73 EPS for the current year.
In other ServiceNow news, COO Chirantan Jitendra Desai sold 7,000 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $ 477.52, for a total transaction of $ 3,342,640.00. Following the sale, the chief operating officer now directly owns 38,980 shares of the company’s stock, valued at approximately $ 18,613,729.60. The sale was disclosed in a document filed with the SEC, available through the SEC website. Also, Director Frederic B. Luddy sold 707 shares of business stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $ 501.92, for a total transaction of $ 354,857.44. Following the sale, the director now directly owns 660 shares in the company, valued at $ 331,267.20. The disclosure for this sale can be found here. Insiders have sold 17,770 shares of the company’s stock worth $ 8,999,332 over the past ninety days. 0.28% of the stock is owned by corporate insiders.
Several research companies have commented on NOW. Cowen cut their price target on ServiceNow from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. StockNews.com began coverage on ServiceNow in a research report on Thursday, March 31st. They gave a “hold” rating to the stock. Citigroup raised their price target on ServiceNow from $ 623.00 to $ 656.00 in a research report on Thursday, April 28th. BMO Capital Markets lowered their target price on ServiceNow from $ 635.00 to $ 570.00 in a research report on Wednesday, April 27th. Finally, Barclays lowered their price target on ServiceNow from $ 652.00 to $ 613.00 in a research report on Thursday, April 28th. Two research analysts rated the stock with a sell rating, two gave a hold rating and twenty-five assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $ 640.70.
ServiceNow Company Profile (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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