Catalyst Capital Advisors LLC Lowers Stock Position in ServiceNow Inc (NYSE:NOW)

Catalyst Capital Advisors LLC lessened its holdings in ServiceNow Inc (NYSE:NOW) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,500 shares of the information technology services provider’s stock after selling 400 shares during the period. Catalyst Capital Advisors LLC’s holdings in ServiceNow were worth $2,400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NOW. Delta Asset Management LLC TN purchased a new stake in shares of ServiceNow in the 3rd quarter worth approximately $25,000. Laurel Wealth Advisors LLC purchased a new stake in ServiceNow during the fourth quarter valued at approximately $28,000. AdvisorNet Financial Inc purchased a new stake in ServiceNow during the third quarter valued at approximately $31,000. Tarbox Family Office Inc. lifted its position in ServiceNow by 668.8% during the fourth quarter. Tarbox Family Office Inc. now owns 123 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 107 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in ServiceNow during the fourth quarter valued at approximately $37,000. 91.74% of the stock is owned by hedge funds and other institutional investors.

NOW stock opened at $351.81 on Friday. The firm has a market cap of $64.42 billion, a PE ratio of 110.98, a P/E/G ratio of 11.51 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.03. The firm’s fifty day moving average is $312.99 and its 200 day moving average is $275.51. ServiceNow Inc has a one year low of $213.99 and a one year high of $357.00.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.09. The company had revenue of $951.77 million for the quarter, compared to analyst estimates of $940.14 million. ServiceNow had a net margin of 18.11% and a return on equity of 7.60%. The firm’s revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. Research analysts predict that ServiceNow Inc will post 1.03 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on the stock. UBS Group increased their target price on shares of ServiceNow from $310.00 to $396.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Raymond James increased their target price on shares of ServiceNow from $360.00 to $383.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 30th. Jefferies Financial Group increased their target price on shares of ServiceNow from to in a research report on Thursday, January 30th. Stifel Nicolaus increased their target price on shares of ServiceNow from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Mizuho increased their target price on shares of ServiceNow from $290.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. ServiceNow presently has a consensus rating of “Buy” and an average price target of $353.82.

In other ServiceNow news, insider David Schneider sold 5,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $283.50, for a total transaction of $1,417,500.00. Following the transaction, the insider now directly owns 46,845 shares of the company’s stock, valued at $13,280,557.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chirantan Jitendra Desai sold 2,836 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $258.00, for a total transaction of $731,688.00. Following the transaction, the insider now directly owns 44,619 shares in the company, valued at $11,511,702. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,611 shares of company stock worth $35,015,904. Insiders own 1.00% of the company’s stock.

ServiceNow Profile

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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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