440 Investment Group LLC reduced its position in shares of ServiceNow Inc (NYSE:NOW) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,251 shares of the information technology services provider’s stock after selling 583 shares during the period. 440 Investment Group LLC’s holdings in ServiceNow were worth $1,076,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Commonwealth Bank of Australia boosted its position in ServiceNow by 5.8% during the second quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock valued at $159,000 after acquiring an additional 83 shares during the last quarter. Comerica Bank boosted its position in shares of ServiceNow by 2.6% during the 2nd quarter. Comerica Bank now owns 7,959 shares of the information technology services provider’s stock worth $859,000 after purchasing an additional 205 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of ServiceNow by 12.3% during the 2nd quarter. Toronto Dominion Bank now owns 2,040 shares of the information technology services provider’s stock worth $216,000 after purchasing an additional 224 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of ServiceNow by 15.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,238 shares of the information technology services provider’s stock worth $381,000 after purchasing an additional 434 shares in the last quarter. Finally, ETRADE Capital Management LLC raised its holdings in shares of ServiceNow by 16.7% in the 3rd quarter. ETRADE Capital Management LLC now owns 3,206 shares of the information technology services provider’s stock worth $377,000 after acquiring an additional 458 shares during the last quarter.
In other news, CRO David Schneider sold 16,349 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $124.21, for a total transaction of $2,030,709.29. Following the completion of the transaction, the executive now directly owns 67,185 shares of the company’s stock, valued at $8,345,048.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Scarpelli sold 95,035 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $126.52, for a total transaction of $12,023,828.20. Following the transaction, the insider now directly owns 194,664 shares of the company’s stock, valued at $24,628,889.28. The disclosure for this sale can be found here. Insiders have sold 630,174 shares of company stock valued at $80,823,650 over the last three months. 3.30% of the stock is owned by corporate insiders.
NOW has been the topic of a number of analyst reports. Mizuho restated a “buy” rating on shares of ServiceNow in a report on Monday, October 16th. BMO Capital Markets restated a “buy” rating and issued a $127.00 target price on shares of ServiceNow in a report on Friday, October 13th. Robert W. Baird set a $120.00 price objective on shares of ServiceNow and gave the company a “buy” rating in a research note on Friday, October 6th. Summit Redstone reiterated a “buy” rating and issued a $135.00 price objective on shares of ServiceNow in a research note on Monday, September 18th. Finally, Northland Securities restated a “buy” rating and set a $135.00 price target on shares of ServiceNow in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. ServiceNow currently has a consensus rating of “Buy” and a consensus target price of $133.73.
Shares of ServiceNow Inc (NYSE NOW) traded up $0.61 during midday trading on Tuesday, hitting $138.19. 1,199,600 shares of the stock traded hands, compared to its average volume of 1,407,833. The company has a market capitalization of $23,940.00, a P/E ratio of -151.86 and a beta of 1.06. ServiceNow Inc has a 52-week low of $81.29 and a 52-week high of $139.06. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.10.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.06. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The firm had revenue of $498.20 million during the quarter, compared to analysts’ expectations of $491.62 million. During the same period in the previous year, the company earned $0.23 earnings per share. The firm’s quarterly revenue was up 39.3% on a year-over-year basis. equities research analysts forecast that ServiceNow Inc will post -0.35 earnings per share for the current year.
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ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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