Pictet Asset Management Ltd. boosted its stake in shares of ServiceNow Inc (NYSE:NOW) by 16.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,494 shares of the information technology services provider’s stock after purchasing an additional 7,833 shares during the quarter. Pictet Asset Management Ltd.’s holdings in ServiceNow were worth $15,512,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sandy Spring Bank boosted its position in shares of ServiceNow by 118.0% in the first quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 59 shares during the period. San Francisco Sentry Investment Group CA boosted its position in shares of ServiceNow by 650.0% in the second quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 91 shares during the period. Motco bought a new stake in shares of ServiceNow in the second quarter valued at approximately $33,000. Knuff & Co LLC bought a new stake in shares of ServiceNow in the first quarter valued at approximately $37,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of ServiceNow in the second quarter valued at approximately $52,000. 91.83% of the stock is owned by institutional investors.
ServiceNow stock traded down $4.85 during mid-day trading on Friday, hitting $251.96. 1,261,704 shares of the company were exchanged, compared to its average volume of 1,597,105. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.54. The business has a fifty day moving average of $265.00 and a 200 day moving average of $263.31. ServiceNow Inc has a 1-year low of $147.63 and a 1-year high of $303.17. The company has a market capitalization of $47.56 billion, a PE ratio of 1,259.80, a price-to-earnings-growth ratio of 21.32 and a beta of 1.34.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The firm had revenue of $833.90 million during the quarter, compared to analyst estimates of $831.50 million. During the same period in the prior year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. Research analysts expect that ServiceNow Inc will post 0.43 earnings per share for the current year.
In other ServiceNow news, Director Frederic B. Luddy sold 22,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $291.33, for a total transaction of $6,409,260.00. Following the completion of the transaction, the director now directly owns 2,983 shares in the company, valued at $869,037.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Schneider sold 3,414 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $291.33, for a total value of $994,600.62. Following the transaction, the insider now owns 44,351 shares of the company’s stock, valued at $12,920,776.83. The disclosure for this sale can be found here. Insiders have sold 95,012 shares of company stock valued at $25,744,347 over the last quarter. Corporate insiders own 1.00% of the company’s stock.
Several equities research analysts have recently weighed in on NOW shares. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Thursday, July 25th. Canaccord Genuity upped their target price on ServiceNow from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Raymond James upped their target price on ServiceNow from $340.00 to $342.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Robert W. Baird upped their target price on ServiceNow from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, UBS Group upped their target price on ServiceNow to $332.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $292.34.
ServiceNow Company 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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