Diversify Advisory Services LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 46.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,805 shares of the information technology services provider's stock after selling 2,470 shares during the period. Diversify Advisory Services LLC's holdings in ServiceNow were worth $2,087,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the first quarter worth $25,000. Versant Capital Management Inc boosted 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 purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock valued at $30,000 after buying an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow during the 4th quarter worth approximately $29,000. Finally, Sachetta LLC purchased a new position in ServiceNow in the 4th quarter worth approximately $35,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.
ServiceNow Stock Performance
Shares of NYSE NOW traded up $14.94 during trading on Friday, reaching $811.08. 799,546 shares of the company traded hands, compared to its average volume of 1,338,625. 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 firm has a 50 day simple moving average of $757.14 and a 200-day simple moving average of $755.55. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $850.33. The stock has a market capitalization of $166.27 billion, a PE ratio of 86.75, a P/E/G ratio of 4.82 and a beta of 0.99.
ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during 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 firm's revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. Equities research analysts anticipate that ServiceNow, Inc. will post 6.84 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Nicholas Tzitzon sold 2,000 shares of the company's stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares of the company's stock, valued at approximately $2,521,422.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Paul John Smith sold 125 shares of the business's stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares of the company's stock, valued at $2,263,606.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,264 shares of company stock valued at $7,004,710. Insiders own 0.25% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. Morgan Stanley upped their price target on ServiceNow from $814.00 to $830.00 and gave the company an "overweight" rating in a research report on Thursday, April 25th. Citigroup lifted their price objective on ServiceNow from $909.00 to $911.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Piper Sandler upped their target price on ServiceNow from $830.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Finally, TD Cowen lifted their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $842.22.
Read Our Latest Stock Report on NOW
ServiceNow Company Profile
(Free Report)
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.
Featured Articles
- Five stocks we like better than ServiceNow
- How to Read Stock Charts for Beginners
- Why Wall Street Analysts Raised Price Targets for Suncor Stock
- What is a Dividend King?
- Is Super Micro Computer a Buy After Shares Sink 20% on Earnings?
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- MarketBeat Week in Review – 8/5 - 8/9
→ The 2024 Tech Panic: What Billionaires Know That You Don’t (From InvestorPlace) (Ad)
Should you invest $1,000 in ServiceNow right now?
Before you consider ServiceNow, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ServiceNow wasn't on the list.
While ServiceNow currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Beginner's Guide to Pot Stock Investing
Click the link below and we'll send you MarketBeat's guide to pot stock investing and which pot companies show the most promise.
Get This Free Report
