Rockbridge Investment Management LCC acquired a new stake in ServiceNow Inc (NYSE:NOW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 100 shares of the information technology services provider’s stock, valued at approximately $41,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. BDO Wealth Advisors LLC purchased a new stake in shares of ServiceNow during the 1st quarter worth approximately $31,000. HHM Wealth Advisors LLC acquired a new position in ServiceNow in the 1st quarter valued at $32,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in ServiceNow by 43.9% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 82 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 25 shares during the last quarter. WASHINGTON TRUST Co acquired a new position in ServiceNow in the 2nd quarter valued at $39,000. Finally, Liberty One Investment Management LLC acquired a new position in ServiceNow in the 2nd quarter valued at $41,000. 90.05% of the stock is currently owned by institutional investors.
NOW has been the subject of several analyst reports. Raymond James boosted their price target on ServiceNow from $385.00 to $490.00 and gave the company a “strong-buy” rating in a report on Thursday, July 30th. Oppenheimer initiated coverage on ServiceNow in a report on Thursday, July 30th. They issued a “hold” rating for the company. Zacks Investment Research downgraded ServiceNow from a “strong-buy” rating to a “hold” rating and set a $465.00 price target for the company. in a report on Wednesday, July 1st. Wells Fargo & Company boosted their price target on ServiceNow from $405.00 to $525.00 in a report on Thursday, July 30th. Finally, Mizuho boosted their price target on ServiceNow from $445.00 to $460.00 in a report on Thursday, July 30th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. ServiceNow presently has a consensus rating of “Buy” and an average price target of $433.85.
In other news, Director Frederic B. Luddy sold 28,600 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $399.99, for a total transaction of $11,439,714.00. Following the transaction, the director now owns 811 shares of the company’s stock, valued at $324,391.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chirantan Jitendra Desai sold 1,562 shares of the stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $425.00, for a total transaction of $663,850.00. Following the transaction, the insider now directly owns 26,378 shares in the company, valued at approximately $11,210,650. The disclosure for this sale can be found here. Insiders have sold 101,529 shares of company stock worth $42,652,776 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.
Shares of NOW stock traded down $11.44 during trading hours on Wednesday, hitting $462.52. 38,538 shares of the company were exchanged, compared to its average volume of 2,086,777. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.17. ServiceNow Inc has a one year low of $213.99 and a one year high of $501.82. The business’s 50-day simple moving average is $449.47 and its two-hundred day simple moving average is $375.97. The stock has a market capitalization of $90.91 billion, a price-to-earnings ratio of 126.60, a P/E/G ratio of 15.60 and a beta of 1.29.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 29th. The information technology services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $0.20 by $1.03. ServiceNow had a net margin of 18.42% and a return on equity of 11.09%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. As a group, analysts anticipate that ServiceNow Inc will post 0.99 EPS for the current fiscal year.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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