D.A. Davidson & CO. acquired a new stake in ServiceNow Inc (NYSE:NOW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,177 shares of the information technology services provider’s stock, valued at approximately $210,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. We Are One Seven LLC acquired a new position in ServiceNow in the fourth quarter valued at approximately $27,000. Shine Investment Advisory Services Inc. lifted its holdings in ServiceNow by 50.5% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 167 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 56 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in ServiceNow in the fourth quarter valued at approximately $30,000. North Star Investment Management Corp. purchased a new stake in ServiceNow in the fourth quarter valued at approximately $31,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in ServiceNow in the third quarter valued at approximately $101,000. Hedge funds and other institutional investors own 96.42% of the company’s stock.
A number of analysts have issued reports on the company. Bank of America reissued a “buy” rating and issued a $235.00 target price (up previously from $217.00) on shares of ServiceNow in a research report on Thursday, January 31st. Credit Suisse Group reissued an “outperform” rating and issued a $225.00 target price (up previously from $215.00) on shares of ServiceNow in a research report on Thursday, January 31st. JPMorgan Chase & Co. boosted their target price on ServiceNow to $245.00 and gave the company an “overweight” rating in a research report on Thursday, January 31st. Citigroup reissued a “buy” rating and issued a $240.00 target price (up previously from $200.00) on shares of ServiceNow in a research report on Thursday, January 31st. Finally, Jefferies Financial Group boosted their target price on ServiceNow to $242.00 and gave the company a “buy” rating in a research report on Thursday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the company. ServiceNow has a consensus rating of “Buy” and a consensus target price of $223.07.
ServiceNow stock opened at $231.97 on Thursday. ServiceNow Inc has a twelve month low of $146.30 and a twelve month high of $237.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $42.14 billion, a PE ratio of 1,159.85, a P/E/G ratio of 23.42 and a beta of 1.43.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 30th. The information technology services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. ServiceNow had a positive return on equity of 4.15% and a negative net margin of 1.02%. The business had revenue of $715.44 million for the quarter, compared to analyst estimates of $717.73 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. The company’s revenue was up 30.3% on a year-over-year basis. Analysts predict that ServiceNow Inc will post 0.35 EPS for the current year.
In other news, insider Michael Scarpelli sold 39,827 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $179.09, for a total transaction of $7,132,617.43. Following the sale, the insider now owns 75,341 shares of the company’s stock, valued at $13,492,819.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald E. F. Codd sold 100,000 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $220.08, for a total value of $22,008,000.00. Following the completion of the transaction, the director now directly owns 78,428 shares in the company, valued at approximately $17,260,434.24. The disclosure for this sale can be found here. Insiders have sold 302,791 shares of company stock worth $59,449,506 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.
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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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