Migdal Insurance & Financial Holdings Ltd. Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

Migdal Insurance & Financial Holdings Ltd. lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 47.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,582 shares of the information technology services provider’s stock after selling 1,407 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in ServiceNow were worth $1,115,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. PFG Private Wealth Management LLC purchased a new stake in shares of ServiceNow in the third quarter valued at approximately $28,000. First Capital Advisors Group LLC. purchased a new stake in shares of ServiceNow during the 2nd quarter worth $29,000. High Net Worth Advisory Group LLC acquired a new position in shares of ServiceNow during the 1st quarter worth $29,000. AdvisorNet Financial Inc increased its holdings in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Finally, Steward Financial Group LLC lifted its stake in shares of ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul John Smith sold 5,159 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 in the last ninety days. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Oppenheimer upped their target price on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research note on Tuesday. KeyCorp assumed coverage on ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 target price on the stock. The Goldman Sachs Group raised their price target on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Jefferies Financial Group lifted their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $780.00.

ServiceNow Stock Down 1.2 %

NOW opened at $735.68 on Thursday. The stock has a market capitalization of $151.09 billion, a price-to-earnings ratio of 87.48, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50-day moving average of $767.53 and a two-hundred day moving average of $700.42.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow’s revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. On average, research analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.