Meridian Wealth Management LLC lessened its position in ServiceNow Inc (NYSE:NOW) by 68.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,802 shares of the information technology services provider’s stock after selling 3,844 shares during the period. Meridian Wealth Management LLC’s holdings in ServiceNow were worth $321,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in shares of ServiceNow by 8.1% during the second quarter. Advisors Asset Management Inc. now owns 17,690 shares of the information technology services provider’s stock valued at $3,051,000 after buying an additional 1,330 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of ServiceNow during the second quarter valued at about $1,440,000. DNB Asset Management AS grew its stake in shares of ServiceNow by 3.9% during the third quarter. DNB Asset Management AS now owns 22,075 shares of the information technology services provider’s stock valued at $4,319,000 after buying an additional 833 shares during the last quarter. Douglass Winthrop Advisors LLC grew its stake in shares of ServiceNow by 50.0% during the third quarter. Douglass Winthrop Advisors LLC now owns 2,250 shares of the information technology services provider’s stock valued at $440,000 after buying an additional 750 shares during the last quarter. Finally, Scout Investments Inc. grew its stake in shares of ServiceNow by 63.3% during the third quarter. Scout Investments Inc. now owns 190,487 shares of the information technology services provider’s stock valued at $37,265,000 after buying an additional 73,810 shares during the last quarter. 96.42% of the stock is currently owned by institutional investors and hedge funds.
NOW traded up $0.05 on Monday, hitting $228.61. The company had a trading volume of 232,475 shares, compared to its average volume of 2,427,325. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 1.26. ServiceNow Inc has a 52-week low of $137.60 and a 52-week high of $229.50. The firm has a market capitalization of $40.98 billion, a PE ratio of 1,143.05, a price-to-earnings-growth ratio of 23.42 and a beta of 1.43.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 30th. The information technology services provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.14. ServiceNow had a negative net margin of 1.02% and a positive return on equity of 4.15%. The business had revenue of $715.44 million during the quarter, compared to analyst estimates of $717.73 million. During the same period last year, the business posted $0.37 earnings per share. ServiceNow’s quarterly revenue was up 30.3% compared to the same quarter last year. Analysts expect that ServiceNow Inc will post 0.35 EPS for the current fiscal year.
In other ServiceNow news, CEO John J. Donahoe sold 15,560 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $161.52, for a total value of $2,513,251.20. Following the completion of the sale, the chief executive officer now directly owns 78,141 shares in the company, valued at $12,621,334.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chirantan Jitendra Desai sold 2,031 shares of the firm’s stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $187.00, for a total transaction of $379,797.00. Following the completion of the sale, the insider now owns 11,814 shares of the company’s stock, valued at $2,209,218. The disclosure for this sale can be found here. Insiders sold 318,437 shares of company stock valued at $60,426,090 over the last 90 days. 1.60% of the stock is currently owned by company insiders.
A number of brokerages have recently issued reports on NOW. Goldman Sachs Group reaffirmed a “buy” rating and set a $260.00 price objective on shares of ServiceNow in a research note on Friday, February 1st. JPMorgan Chase & Co. raised their target price on ServiceNow to $245.00 and gave the stock an “overweight” rating in a research note on Thursday, January 31st. Jefferies Financial Group raised their target price on ServiceNow to $242.00 and gave the stock a “buy” rating in a research note on Thursday, January 31st. JMP Securities reissued a “mkt outperform” rating and issued a $225.00 target price (up from $220.00) on shares of ServiceNow in a research note on Thursday, January 31st. Finally, Citigroup reissued a “buy” rating and issued a $240.00 target price (up from $200.00) on shares of ServiceNow in a research note on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and three have given a strong buy rating to the company. ServiceNow currently has an average rating of “Buy” and an average price target of $223.07.
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ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.
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