GHP Investment Advisors Inc. decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 28.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92 shares of the information technology services provider’s stock after selling 37 shares during the quarter. GHP Investment Advisors Inc.’s holdings in ServiceNow were worth $72,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Creekmur Asset Management LLC bought a new position in ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC lifted its stake in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow during the 4th quarter worth $29,000. Finally, Ridgewood Investments LLC acquired a new position in ServiceNow in the 2nd quarter worth about $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares in the company, valued at $3,319,372.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock valued at $5,608,936. Corporate insiders own 0.25% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on NOW shares. Robert W. Baird boosted their price target on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus upped their price target on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. JMP Securities increased their price objective on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their target price on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $849.62.
View Our Latest Research Report on NOW
ServiceNow Trading Down 0.8 %
NYSE NOW opened at $878.95 on Friday. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $889.52. The business has a 50 day moving average price of $807.22 and a 200-day moving average price of $766.50. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $181.06 billion, a price-to-earnings ratio of 94.01, a P/E/G ratio of 5.25 and a beta of 0.98.
ServiceNow (NYSE:NOW – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share. As a group, equities analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.
ServiceNow Company 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.
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