Blueshift Asset Management LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 164.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 660 shares of the information technology services provider's stock after acquiring an additional 410 shares during the period. Blueshift Asset Management LLC's holdings in ServiceNow were worth $525,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in NOW. Bogart Wealth LLC grew its stake in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new position in shares of ServiceNow in the 1st quarter valued at approximately $26,000. Quarry LP purchased a new position in shares of ServiceNow in the 4th quarter valued at approximately $27,000. WASHINGTON TRUST Co grew its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in shares of ServiceNow in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 87.18% of the company's stock.
Analysts Set New Price Targets
NOW has been the topic of several analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Royal Bank Of Canada raised their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Raymond James Financial raised their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. TD Securities reissued a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Finally, Evercore ISI boosted their target price on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,115.20.
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ServiceNow Stock Up 0.8%
NOW traded up $7.65 on Monday, reaching $922.02. The company's stock had a trading volume of 1,285,082 shares, compared to its average volume of 1,623,128. The stock has a market cap of $191.78 billion, a price-to-earnings ratio of 116.12, a price-to-earnings-growth ratio of 4.12 and a beta of 0.93. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business's 50 day moving average is $994.89 and its 200 day moving average is $949.28.
ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The business's quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.13 EPS. As a group, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.
Insider Activity
In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider owned 3,000 shares of the company's stock, valued at $3,060,000. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 145 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $147,900.00. Following the transaction, the insider directly owned 3,027 shares of the company's stock, valued at approximately $3,087,540. The trade was a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,990 shares of company stock worth $6,047,567 over the last ninety days. 0.38% of the stock is currently owned by company insiders.
ServiceNow Company Profile
(
Free Report)
ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.
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