World Asset Management Inc. has lowered its holdings in ServiceNow, Inc. (NYSE: NOW) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owns 3,351 shares of the information technology services provider’s stock after selling 382 shares during the period. World Asset Management Inc.’s holdings in ServiceNow were valued at $ 2,085,000 at the end of the most recent reporting period.
Several other large investors have increased or decreased their stakes in the business. Lone Pine Capital LLC raised its holdings in shares of ServiceNow by 67.0% in the 2nd quarter. Lone Pine Capital LLC now owns 2,468,798 shares of the information technology services provider’s stock worth $ 1,356,728,000 after buying an additional 990,073 shares in the last quarter. Raised by BlackRock Inc. its holdings in ServiceNow shares of 4.2% in the 3rd quarter. BlackRock Inc. now owns 16,125,077 shares of the information technology services provider’s stock worth $ 10,034,153,000 after buying an additional 657,340 shares in the last quarter. WELLCOME TRUST LTD as manager of WELLCOME TRUST purchased a new position in shares of ServiceNow in the 2nd quarter worth approximately $ 251,104,000. Raised by Macquarie Group Ltd. its holdings in ServiceNow shares of 111.4% in the 2nd quarter. Macquarie Group Ltd. now owns 774,314 shares of the information technology services provider’s stock worth $ 425,524,000 after buying an additional 407,994 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in ServiceNow shares by 100.0% during the 3rd quarter. Nordea Investment Management AB now owns 790,168 shares of the information technology services provider’s stock worth $ 491,422,000 after buying an additional 395,021 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in NOW. raised their price target on ServiceNow from $ 650.00 to $ 715.00 and gave the company a “buy” rating in a report on Thursday, October 28th. Summit Insights assumed coverage on ServiceNow in a research report on Tuesday, September 28th. They set a “buy” rating on the stock. Bank of America raised their target price on ServiceNow from $ 700.00 to $ 800.00 and gave the stock a “buy” rating in a research report on Wednesday, October 20th. DZ Bank assumed coverage on ServiceNow in a research report on Wednesday, September 22nd. They set a “buy” rating and a $ 725.00 target price on the stock. Finally, Mizuho raised their target price on ServiceNow from $ 650.00 to $ 680.00 and gave the stock a “buy” rating in a research report on Monday, October 18th. Three research analysts rated the stock with a hold rating, twenty-nine issued a buy rating and one gave a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average “Buy” rating and an average price target of $ 720.90.
Shares of NOW stock traded $ 9.80 in mid-day trading on Friday, reaching $ 531.06. The company’s stock has a trading volume of 5,489 shares, compared to its average volume of 1,990,397. ServiceNow, Inc. has a 52-week low of $ 448.27 and a 52-week high of $ 707.60. The business has a 50-day moving average price of $ 639.20 and a 200-day moving average price of $ 626.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $ 105.68 billion, a price-to-earnings ratio of 478.22, a PEG ratio of 10.45 and a beta of 1.01.
ServiceNow (NYSE: NOW) last posted its quarterly earnings results on Wednesday, October 27th. The information technology service provider reported $ 1.55 revenue per share for the quarter, ahead of Thomson Reuters ’consensus estimate of $ 1.39 of $ 0.16. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. The company had revenue of $ 1.51 billion in the quarter, compared to analysts ’expectations of $ 1.48 billion. In the same quarter last year, the business earned $ 0.30 revenue per share. The company’s revenue rose 31.3% on a year-on-year basis. Equities research analysts predict that ServiceNow, Inc. will post 1.39 EPS for the current financial year.
In related news, Director Frederic B. Luddy sold 15,000 shares of the company’s stock in a transaction on Wednesday, Jan. 12th. The stock was sold at an average price of $ 577.36, for a total transaction of $ 8,660,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible through the SEC website. Also, CFO Gina Mastantuono sold 66 shares of the company’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $ 695.31, for a total value of $ 45,890.46. The disclosure for this sale can be found here. Insiders have sold 24,655 shares of the company’s stock worth $ 15,161,081 over the past 90 days. Company insiders own 0.35% of the company’s stock.
About ServiceNow
ServiceNow, Inc. is engaged in providing enterprise cloud computing solutions. The company delivers digital workflows on an enterprise cloud platform called Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products. .
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