Cavalier Investments LLC decreased its position in shares of ServiceNow Inc (NYSE:NOW) by 44.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,900 shares of the information technology services provider’s stock after selling 4,000 shares during the quarter. Cavalier Investments LLC’s holdings in ServiceNow were worth $1,383,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOW. Delta Asset Management LLC TN bought a new stake in ServiceNow during the third quarter worth $25,000. Laurel Wealth Advisors LLC purchased a new position in ServiceNow in the fourth quarter worth $28,000. AdvisorNet Financial Inc purchased a new position in ServiceNow in the third quarter worth $31,000. Tarbox Family Office Inc. boosted its position in ServiceNow by 668.8% in the fourth quarter. Tarbox Family Office Inc. now owns 123 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 107 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new position in ServiceNow in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 91.74% of the company’s stock.
In related news, CEO William R. Mcdermott bought 3,600 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $278.93 per share, for a total transaction of $1,004,148.00. Following the completion of the transaction, the chief executive officer now owns 3,600 shares of the company’s stock, valued at $1,004,148. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chirantan Jitendra Desai sold 1,563 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $266.36, for a total value of $416,320.68. Following the completion of the transaction, the insider now owns 38,697 shares in the company, valued at $10,307,332.92. The disclosure for this sale can be found here. Insiders sold 112,611 shares of company stock valued at $35,015,904 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.
NOW has been the topic of a number of recent research reports. Jefferies Financial Group upped their price target on ServiceNow from to in a research report on Thursday, January 30th. JMP Securities upped their price target on ServiceNow from $325.00 to $340.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. TheStreet raised ServiceNow from a “c” rating to a “b” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued a “positive” rating and set a $370.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. Finally, Canaccord Genuity increased their price objective on ServiceNow from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $353.82.
ServiceNow stock opened at $351.81 on Friday. The firm has a market cap of $64.42 billion, a price-to-earnings ratio of 110.98, a PEG ratio of 11.51 and a beta of 1.36. The stock has a fifty day simple moving average of $312.99 and a two-hundred day simple moving average of $275.51. ServiceNow Inc has a 12 month low of $213.99 and a 12 month high of $357.00. The company has a current ratio of 1.03, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.
ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 29th. The information technology services provider reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.09. The business had revenue of $951.77 million during the quarter, compared to analyst estimates of $940.14 million. ServiceNow had a return on equity of 7.60% and a net margin of 18.11%. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. On average, equities research analysts forecast that ServiceNow Inc will post 1.03 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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