Keybank National Association OH lessened its holdings in ServiceNow Inc (NYSE:NOW) by 19.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,818 shares of the information technology services provider’s stock after selling 3,428 shares during the period. Keybank National Association OH’s holdings in ServiceNow were worth $3,508,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. KBC Group NV raised its stake in ServiceNow by 275.3% in the second quarter. KBC Group NV now owns 87,151 shares of the information technology services provider’s stock valued at $23,929,000 after purchasing an additional 63,929 shares in the last quarter. Menta Capital LLC acquired a new position in ServiceNow during the second quarter worth about $223,000. Institute for Wealth Management LLC. raised its stake in ServiceNow by 10.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,049 shares of the information technology services provider’s stock worth $837,000 after acquiring an additional 292 shares in the last quarter. Arcadia Investment Management Corp MI grew its holdings in shares of ServiceNow by 219.5% during the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the information technology services provider’s stock worth $741,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of ServiceNow by 47.8% during the second quarter. Jennison Associates LLC now owns 4,489,468 shares of the information technology services provider’s stock worth $1,232,673,000 after purchasing an additional 1,452,900 shares during the last quarter. 90.97% of the stock is currently owned by institutional investors and hedge funds.
NOW stock traded up $7.56 during trading on Friday, hitting $248.45. The company had a trading volume of 1,825,086 shares, compared to its average volume of 1,975,001. The business has a 50-day moving average of $253.22 and a 200-day moving average of $267.00. ServiceNow Inc has a one year low of $147.63 and a one year high of $303.17. The stock has a market cap of $45.35 billion, a PE ratio of 1,242.25, a PEG ratio of 17.96 and a beta of 1.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.81. The firm had revenue of $885.80 million for the quarter, compared to analysts’ expectations of $885.53 million. ServiceNow had a return on equity of 6.62% and a net margin of 1.09%. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. Research analysts forecast that ServiceNow Inc will post 0.48 EPS for the current year.
In other ServiceNow news, CFO Michael Scarpelli sold 31,183 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 36,200 shares in the company, valued at approximately $9,419,964. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederic B. Luddy sold 22,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $269.37, for a total value of $5,926,140.00. Following the transaction, the director now owns 1,213 shares in the company, valued at $326,745.81. The disclosure for this sale can be found here. Insiders have sold a total of 84,854 shares of company stock worth $22,294,182 over the last 90 days. Company insiders own 1.00% of the company’s stock.
Several analysts have recently weighed in on NOW shares. Bank of America restated a “buy” rating and set a $330.00 price target (up from $300.00) on shares of ServiceNow in a report on Thursday, July 25th. Canaccord Genuity reduced their price target on ServiceNow from $315.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada reduced their price target on ServiceNow to $286.00 and set a “top pick” rating on the stock in a report on Thursday, October 24th. SunTrust Banks started coverage on ServiceNow in a report on Wednesday, October 2nd. They set a “buy” rating and a $321.00 price target on the stock. Finally, Needham & Company LLC boosted their price target on ServiceNow from $276.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $292.31.
ServiceNow Company Profile
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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