Janney Montgomery Scott LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 23.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 317,470 shares of the information technology services provider's stock after buying an additional 60,911 shares during the period. Janney Montgomery Scott LLC's holdings in ServiceNow were worth $33,191,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of ServiceNow in the 4th quarter worth $2,020,992,000. World Investment Advisors lifted its stake in shares of ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock worth $7,346,000 after purchasing an additional 38,583 shares during the last quarter. Cohen Klingenstein LLC boosted its position in ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after purchasing an additional 8,000 shares in the last quarter. Moors & Cabot Inc. boosted its position in ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock valued at $6,990,000 after purchasing an additional 36,274 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in ServiceNow by 385.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock valued at $398,202,000 after purchasing an additional 2,064,440 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.
Insider Activity at ServiceNow
In other news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of the business's stock in a transaction 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 sale, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have commented on NOW. HSBC reduced their target price on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a report on Thursday, April 16th. TD Cowen reaffirmed a "buy" rating and issued a $140.00 price objective on shares of ServiceNow in a research report on Thursday, April 23rd. Evercore boosted their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Canaccord Genuity Group decreased their target price on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Finally, Capital One Financial increased their target price on shares of ServiceNow from $105.00 to $120.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.17.
View Our Latest Analysis on NOW
ServiceNow Price Performance
Shares of NOW stock opened at $99.89 on Tuesday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The firm has a market capitalization of $102.99 billion, a price-to-earnings ratio of 59.53, a PEG ratio of 1.64 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 stock's 50-day simple moving average is $100.17 and its 200-day simple moving average is $114.38.
ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS 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 firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the firm posted $0.81 EPS. ServiceNow's revenue was up 22.1% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.
ServiceNow 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.
See Also
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