Foresters Investment Management Company Inc. boosted its position in ServiceNow Inc (NYSE:NOW) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,729 shares of the information technology services provider’s stock after acquiring an additional 829 shares during the period. Foresters Investment Management Company Inc.’s holdings in ServiceNow were worth $10,085,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in NOW. KBC Group NV increased its position in shares of ServiceNow by 275.3% during the second quarter. KBC Group NV now owns 87,151 shares of the information technology services provider’s stock valued at $23,929,000 after acquiring an additional 63,929 shares during the last quarter. Institute for Wealth Management LLC. grew its position in shares of ServiceNow by 10.6% in the second quarter. Institute for Wealth Management LLC. now owns 3,049 shares of the information technology services provider’s stock valued at $837,000 after purchasing an additional 292 shares in the last quarter. Menta Capital LLC purchased a new position in shares of ServiceNow in the second quarter valued at $223,000. Marshall Wace LLP purchased a new position in shares of ServiceNow in the first quarter valued at $724,000. Finally, Arcadia Investment Management Corp MI grew its position in shares of ServiceNow by 219.5% in the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the information technology services provider’s stock valued at $741,000 after purchasing an additional 1,855 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.
Several equities analysts have recently weighed in on NOW shares. Needham & Company LLC lifted their price target on ServiceNow from $276.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Canaccord Genuity lifted their price objective on ServiceNow from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada reissued a “top pick” rating and set a $320.00 price objective (up previously from $300.00) on shares of ServiceNow in a research note on Tuesday, September 3rd. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Thursday, July 25th. Finally, Cleveland Research assumed coverage on ServiceNow in a research note on Monday, June 17th. They set a “buy” rating for the company. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. ServiceNow presently has an average rating of “Buy” and an average target price of $292.34.
In related news, Director Frederic B. Luddy sold 1,015 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $254.79, for a total transaction of $258,611.85. Following the completion of the sale, the director now owns 1,213 shares of the company’s stock, valued at approximately $309,060.27. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Chirantan Jitendra Desai sold 1,563 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $302.30, for a total transaction of $472,494.90. Following the completion of the transaction, the insider now owns 32,824 shares in the company, valued at $9,922,695.20. The disclosure for this sale can be found here. Insiders have sold 93,449 shares of company stock valued at $25,342,219 over the last 90 days. 1.00% of the stock is currently owned by insiders.
NYSE NOW traded down $2.98 during trading on Friday, hitting $253.83. The stock had a trading volume of 150,319 shares, compared to its average volume of 1,611,566. The stock has a 50 day simple moving average of $265.88 and a 200 day simple moving average of $263.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow Inc has a one year low of $147.63 and a one year high of $303.17. The stock has a market capitalization of $47.47 billion, a price-to-earnings ratio of 1,269.15, a P/E/G ratio of 21.28 and a beta of 1.34.
ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. ServiceNow had a net margin of 0.09% and a return on equity of 4.29%. The business had revenue of $833.90 million for the quarter, compared to analyst estimates of $831.50 million. During the same period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, sell-side analysts predict that ServiceNow Inc will post 0.43 EPS for the current year.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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