Circle Wealth Management LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 356.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,358 shares of the information technology services provider's stock after acquiring an additional 13,553 shares during the quarter. Circle Wealth Management LLC's holdings in ServiceNow were worth $2,659,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in ServiceNow by 354.8% during the fourth quarter. Quadrant Capital Group LLC now owns 22,906 shares of the information technology services provider's stock valued at $3,509,000 after acquiring an additional 17,870 shares during the last quarter. Castleark Management LLC boosted its position in ServiceNow by 410.4% during the fourth quarter. Castleark Management LLC now owns 270,420 shares of the information technology services provider's stock valued at $41,426,000 after acquiring an additional 217,442 shares during the last quarter. Livet Wealth LLC bought a new position in shares of ServiceNow during the 4th quarter worth about $203,000. Advisors Asset Management Inc. boosted its position in shares of ServiceNow by 472.7% during the 4th quarter. Advisors Asset Management Inc. now owns 96,877 shares of the information technology services provider's stock worth $14,841,000 after purchasing an additional 79,961 shares in the last quarter. Finally, CI Investments Inc. boosted its position in shares of ServiceNow by 279.6% during the 4th quarter. CI Investments Inc. now owns 1,052,809 shares of the information technology services provider's stock worth $161,280,000 after purchasing an additional 775,461 shares in the last quarter. Institutional investors own 87.18% of the company's stock.
ServiceNow Price Performance
Shares of NYSE NOW opened at $102.34 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The stock has a market cap of $105.51 billion, a price-to-earnings ratio of 60.99, a PEG ratio of 1.70 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm's 50-day simple moving average is $99.80 and its 200 day simple moving average is $120.05.
ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the firm earned $0.81 EPS. The firm's revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $115.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. Weiss Ratings downgraded shares of ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, April 21st. FBN Securities reduced their price target on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Bank of America assumed coverage on shares of ServiceNow in a research report on Monday, May 18th. They issued a "buy" rating and a $130.00 price target for the company. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $121.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $141.85.
Check Out Our Latest Analysis on ServiceNow
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Insider Buying and Selling at ServiceNow
In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares of the company's stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider directly owned 29,531 shares of the company's stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 in the last quarter. 0.34% of the stock is owned by insiders.
ServiceNow Company Profile
(
Free Report)
ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.
Further Reading
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