Eagle Asset Management Inc. lessened its stake in shares of ServiceNow Inc (NYSE:NOW) by 22.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 486,726 shares of the information technology services provider’s stock after selling 137,747 shares during the period. Eagle Asset Management Inc. owned 0.26% of ServiceNow worth $123,555,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Delta Asset Management LLC TN acquired a new position in ServiceNow during the third quarter valued at approximately $25,000. San Francisco Sentry Investment Group CA grew its stake in shares of ServiceNow by 650.0% in the second quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 91 shares during the last quarter. AdvisorNet Financial Inc acquired a new stake in shares of ServiceNow in the third quarter worth $31,000. North Star Investment Management Corp. acquired a new stake in shares of ServiceNow in the third quarter worth $32,000. Finally, Motco acquired a new stake in shares of ServiceNow in the second quarter worth $33,000. Institutional investors own 90.97% of the company’s stock.
Several equities research analysts have recently issued reports on NOW shares. UBS Group raised their price objective on shares of ServiceNow to $332.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Cfra upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Monday. Canaccord Genuity lowered their price objective on shares of ServiceNow from $315.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $250.00 to $267.00 in a research note on Wednesday, October 16th. Finally, William Blair restated an “outperform” rating on shares of ServiceNow in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. ServiceNow has a consensus rating of “Buy” and an average price target of $292.31.
In other ServiceNow news, CFO Michael Scarpelli sold 31,183 shares of ServiceNow stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $260.22, for a total transaction of $8,114,440.26. Following the completion of the transaction, the chief financial officer now directly owns 36,200 shares of the company’s stock, valued at $9,419,964. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chirantan Jitendra Desai sold 1,563 shares of ServiceNow stock in a transaction on Monday, August 12th. The shares were sold at an average price of $261.30, for a total value of $408,411.90. Following the transaction, the insider now directly owns 33,864 shares of the company’s stock, valued at $8,848,663.20. The disclosure for this sale can be found here. Insiders have sold 84,854 shares of company stock worth $22,294,182 in the last quarter. Corporate insiders own 1.00% of the company’s stock.
NOW traded up $7.56 during trading on Friday, reaching $248.45. 1,904,805 shares of the company’s stock were exchanged, compared to its average volume of 1,975,001. ServiceNow Inc has a fifty-two week low of $147.63 and a fifty-two week high of $303.17. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.75. The business has a 50 day moving average price of $253.22 and a 200 day moving average price of $267.00. The company has a market capitalization of $45.35 billion, a P/E ratio of 1,242.25, a PEG ratio of 17.96 and a beta of 1.28.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.81. ServiceNow had a net margin of 1.09% and a return on equity of 6.62%. The firm had revenue of $885.80 million for the quarter, compared to the consensus estimate of $885.53 million. During the same quarter in the previous year, the company earned $0.68 earnings per share. The business’s revenue was up 31.6% compared to the same quarter last year. As a group, research analysts forecast that ServiceNow Inc will post 0.48 EPS for the current 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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