Catalyst Capital Advisors LLC Sells 815 Shares of ServiceNow, Inc. (NYSE:NOW)

Catalyst Capital Advisors LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOWGet Rating) by 21.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,915 shares of the information technology services provider’s stock after selling 815 shares during the period. Catalyst Capital Advisors LLC’s holdings in ServiceNow were worth $1,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lumature Wealth Partners LLC raised its stake in shares of ServiceNow by 2.3% during the 4th quarter. Lumature Wealth Partners LLC now owns 1,563 shares of the information technology services provider’s stock worth $1,015,000 after purchasing an additional 35 shares during the period. Confluence Wealth Services Inc. bought a new stake in ServiceNow in the 4th quarter valued at about $100,000. Lee Capital Holdings LLC raised its stake in ServiceNow by 17.0% in the 4th quarter. Lee Capital Holdings LLC now owns 3,170 shares of the information technology services provider’s stock valued at $2,058,000 after acquiring an additional 460 shares during the period. Pinebridge Investments L.P. raised its stake in ServiceNow by 15.9% in the 4th quarter. Pinebridge Investments L.P. now owns 60,020 shares of the information technology services provider’s stock valued at $38,960,000 after acquiring an additional 8,240 shares during the period. Finally, Rafferty Asset Management LLC raised its stake in ServiceNow by 14.8% in the 4th quarter. Rafferty Asset Management LLC now owns 43,544 shares of the information technology services provider’s stock valued at $28,265,000 after acquiring an additional 5,611 shares during the period. Institutional investors own 87.20% of the company’s stock.

NOW stock traded up $19.71 during midday trading on Friday, hitting $452.65. The company had a trading volume of 2,093,565 shares, compared to its average volume of 1,754,470. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow, Inc. has a 52 week low of $406.47 and a 52 week high of $707.60. The stock’s 50 day moving average price is $516.26 and its 200 day moving average price is $577.81. The stock has a market cap of $90.74 billion, a price-to-earnings ratio of 411.50, a PEG ratio of 8.23 and a beta of 1.09.

ServiceNow (NYSE:NOWGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The information technology services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.03. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s revenue was up 26.6% on a year-over-year basis. Analysts predict that ServiceNow, Inc. will post 1.8 earnings per share for the current year.

A number of research firms have weighed in on NOW. Royal Bank of Canada reduced their target price on ServiceNow from $700.00 to $660.00 and set an “outperform” rating for the company in a report on Monday, April 25th. Robert W. Baird reduced their target price on ServiceNow from $650.00 to $600.00 in a report on Thursday, January 27th. Oppenheimer reduced their target price on ServiceNow from $660.00 to $600.00 in a report on Thursday, April 28th. Truist Financial reduced their target price on ServiceNow from $700.00 to $600.00 in a report on Tuesday. Finally, StockNews.com began coverage on ServiceNow in a report on Thursday, March 31st. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Buy” and an average target price of $664.74.

In related news, insider Christopher Bedi sold 158 shares of the company’s stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $578.87, for a total transaction of $91,461.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gina Mastantuono sold 719 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $565.96, for a total value of $406,925.24. The disclosure for this sale can be found here. Insiders sold 22,007 shares of company stock valued at $12,332,620 in the last quarter. Corporate insiders own 0.35% of the company’s stock.

ServiceNow Company Profile (Get Rating)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

Featured Stories

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.