Empowered Funds LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 17.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,061 shares of the information technology services provider’s stock after acquiring an additional 159 shares during the quarter. Empowered Funds LLC’s holdings in ServiceNow were worth $591,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its stake in ServiceNow by 0.4% during the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock valued at $10,509,544,000 after purchasing an additional 65,623 shares in the last quarter. State Street Corp increased its stake in shares of ServiceNow by 3.2% in the fourth quarter. State Street Corp now owns 7,870,165 shares of the information technology services provider’s stock worth $5,108,603,000 after acquiring an additional 241,296 shares during the period. Geode Capital Management LLC boosted its holdings in ServiceNow by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 3,082,765 shares of the information technology services provider’s stock worth $1,995,048,000 after buying an additional 106,519 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in ServiceNow by 11.7% during the fourth quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock worth $1,898,748,000 after buying an additional 305,908 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in ServiceNow by 16.6% during the fourth quarter. Brown Advisory Inc. now owns 2,480,958 shares of the information technology services provider’s stock valued at $1,610,414,000 after purchasing an additional 352,766 shares in the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
A number of brokerages have recently commented on NOW. Barclays reduced their target price on shares of ServiceNow from $652.00 to $613.00 in a research report on Thursday, April 28th. Royal Bank of Canada lowered their price objective on shares of ServiceNow from $700.00 to $660.00 and set an “outperform” rating for the company in a research note on Monday, April 25th. Stifel Nicolaus decreased their price target on shares of ServiceNow from $650.00 to $550.00 in a research note on Wednesday, May 25th. BMO Capital Markets reduced their price objective on shares of ServiceNow from $635.00 to $570.00 in a research report on Wednesday, April 27th. Finally, Cowen cut their target price on shares of ServiceNow from $725.00 to $695.00 in a report on Thursday, April 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $640.70.
In related news, COO Chirantan Jitendra Desai sold 7,000 shares of ServiceNow stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the transaction, the chief operating officer now directly owns 38,980 shares of the company’s stock, valued at $18,613,729.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $556.81, for a total value of $3,674,946.00. Following the transaction, the director now directly owns 707 shares in the company, valued at $393,664.67. The disclosure for this sale can be found here. Insiders have sold 17,770 shares of company stock worth $8,999,332 over the last three months. Corporate insiders own 0.28% of the company’s stock.
Shares of NYSE NOW opened at $484.36 on Monday. ServiceNow, Inc. has a 1-year low of $406.47 and a 1-year high of $707.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.12 and a quick ratio of 1.12. The business’s fifty day moving average price is $463.36 and its two hundred day moving average price is $527.70. The firm has a market capitalization of $97.09 billion, a PE ratio of 440.33, a P/E/G ratio of 9.82 and a beta of 1.03.
ServiceNow (NYSE:NOW – Get Rating) last issued its earnings results on Wednesday, April 27th. The information technology services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.13. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. Equities research analysts expect that ServiceNow, Inc. will post 1.73 earnings per share for the current fiscal year.
ServiceNow Company Profile: (Get Rating)
ServiceNow, Inc provides enterprise cloud computing solutions that define, 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.
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