First Citizens Bank & Trust Co. boosted its stake in ServiceNow Inc (NYSE:NOW) by 2.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,090 shares of the information technology services provider’s stock after buying an additional 164 shares during the period. First Citizens Bank & Trust Co.’s holdings in ServiceNow were worth $1,800,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in NOW. San Francisco Sentry Investment Group CA grew its position in ServiceNow by 650.0% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 91 shares in the last quarter. North Star Investment Management Corp. bought a new position in shares of ServiceNow during the 3rd quarter valued at about $32,000. Motco bought a new position in shares of ServiceNow during the 2nd quarter valued at about $33,000. Mizuho Securities Co. Ltd. bought a new position in shares of ServiceNow during the 2nd quarter valued at about $52,000. Finally, Next Capital Management LLC boosted its position in shares of ServiceNow by 90.8% during the 2nd quarter. Next Capital Management LLC now owns 229 shares of the information technology services provider’s stock valued at $63,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 90.95% of the company’s stock.
Several equities analysts have recently weighed in on the stock. BTIG Research restated a “buy” rating and set a $320.00 price objective on shares of ServiceNow in a research report on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $330.00 price objective (up from $300.00) on shares of ServiceNow in a research note on Thursday, July 25th. SunTrust Banks started coverage on shares of ServiceNow in a research note on Wednesday, October 2nd. They set a “buy” rating and a $321.00 price objective for the company. ValuEngine raised shares of ServiceNow from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, KeyCorp upped their price objective on shares of ServiceNow from $270.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $296.17.
NYSE NOW opened at $243.00 on Friday. The company has a 50 day simple moving average of $260.64 and a 200-day simple moving average of $266.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $47.68 billion, a price-to-earnings ratio of 1,215.00, a price-to-earnings-growth ratio of 21.63 and a beta of 1.31. ServiceNow Inc has a 52-week low of $147.63 and a 52-week high of $303.17.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $833.90 million during the quarter, compared to analyst estimates of $831.50 million. ServiceNow had a net margin of 0.09% and a return on equity of 4.29%. The firm’s revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, analysts predict that ServiceNow Inc will post 0.42 EPS for the current year.
In related news, CFO Michael Scarpelli sold 31,183 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $260.22, for a total transaction of $8,114,440.26. Following the transaction, the chief financial officer now owns 36,200 shares of the company’s stock, valued at $9,419,964. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 1,770 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $288.16, for a total transaction of $510,043.20. Following the transaction, the director now directly owns 1,213 shares in the company, valued at approximately $349,538.08. The disclosure for this sale can be found here. Insiders sold 91,598 shares of company stock valued at $24,216,251 over the last three months. 1.00% of the stock is owned by insiders.
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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