ARP Americas LP cut its position in shares of ServiceNow Inc (NYSE:NOW) by 16.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,500 shares of the information technology services provider’s stock after selling 300 shares during the quarter. ARP Americas LP’s holdings in ServiceNow were worth $267,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in NOW. Capital International Investors purchased a new position in ServiceNow during the third quarter worth about $480,663,000. Capital Research Global Investors boosted its holdings in ServiceNow by 75.0% during the third quarter. Capital Research Global Investors now owns 5,257,914 shares of the information technology services provider’s stock worth $1,028,606,000 after purchasing an additional 2,254,082 shares during the last quarter. Jennison Associates LLC boosted its holdings in ServiceNow by 282.1% during the fourth quarter. Jennison Associates LLC now owns 2,406,077 shares of the information technology services provider’s stock worth $428,402,000 after purchasing an additional 1,776,380 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in ServiceNow by 27.0% during the third quarter. TIAA CREF Investment Management LLC now owns 3,275,482 shares of the information technology services provider’s stock worth $640,783,000 after purchasing an additional 697,046 shares during the last quarter. Finally, PointState Capital LP boosted its holdings in ServiceNow by 167.3% during the third quarter. PointState Capital LP now owns 1,107,880 shares of the information technology services provider’s stock worth $216,735,000 after purchasing an additional 693,419 shares during the last quarter. Institutional investors and hedge funds own 97.07% of the company’s stock.
Several research analysts recently weighed in on the stock. UBS Group restated a “buy” rating and set a $230.00 price target (up from $214.00) on shares of ServiceNow in a report on Thursday, January 31st. Jefferies Financial Group boosted their price target on shares of ServiceNow to $242.00 and gave the stock a “buy” rating in a report on Thursday, January 31st. Canaccord Genuity restated a “buy” rating and set a $240.00 price target (up from $210.00) on shares of ServiceNow in a report on Thursday, January 31st. ValuEngine upgraded shares of ServiceNow from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 1st. Finally, KeyCorp restated an “overweight” rating and set a $250.00 price target (up from $210.00) on shares of ServiceNow in a report on Thursday, January 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $227.75.
NOW opened at $241.59 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.16. The stock has a market capitalization of $43.79 billion, a price-to-earnings ratio of 1,207.95, a P/E/G ratio of 24.46 and a beta of 1.44. ServiceNow Inc has a twelve month low of $147.63 and a twelve month high of $245.33.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 30th. The information technology services provider reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.14. The firm had revenue of $715.44 million for the quarter, compared to analysts’ expectations of $717.73 million. ServiceNow had a negative net margin of 1.02% and a positive return on equity of 3.95%. The company’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, research analysts anticipate that ServiceNow Inc will post 0.35 earnings per share for the current fiscal year.
In related news, insider Chirantan Jitendra Desai sold 2,031 shares of the company’s stock in a transaction that occurred on Monday, January 14th. The shares were sold at an average price of $187.87, for a total transaction of $381,563.97. Following the sale, the insider now directly owns 11,814 shares in the company, valued at approximately $2,219,496.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Schneider sold 2,373 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $240.17, for a total transaction of $569,923.41. Following the sale, the insider now owns 57,605 shares in the company, valued at $13,834,992.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 264,756 shares of company stock worth $57,018,261. 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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