A number of other large investors also recently modified their holdings of the business. Polen Capital Management LLC increased its position in shares of ServiceNow by 26.5% during the third quarter. Polen Capital Management LLC now owns 3,953,299 shares of the information technology services provider’s stock valued at $1,492,805,000 after purchasing an additional 827,285 shares during the period. Ontario Teachers Pension Plan Board increased its position in shares of ServiceNow by 37.9% during the second quarter. Ontario Teachers Pension Plan Board now owns 890,775 shares of the information technology services provider’s stock valued at $423,581,000 after purchasing an additional 244,958 shares during the period. Stockbridge Partners LLC increased its position in shares of ServiceNow by 79.6% during the first quarter. Stockbridge Partners LLC now owns 483,554 shares of the information technology services provider’s stock valued at $269,286,000 after purchasing an additional 214,243 shares during the period. Great West Life Assurance Co. Can bought a new stake in shares of ServiceNow during the third quarter valued at approximately $68,701,000. Finally, CDAM UK Ltd bought a new stake in ServiceNow in the second quarter valued at $70,116,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.
ServiceNow Trading Down 3.2 %
NYSE:NOW opened at $439.01 on Friday. ServiceNow, Inc. has a 1-year low of $337.00 and a 1-year high of $601.62. The business’s 50-day moving average price is $420.93 and its two-hundred day moving average price is $418.76. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $89.12 billion, a price-to-earnings ratio of 274.38, a PEG ratio of 5.98 and a beta of 0.99.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.28. ServiceNow had a return on equity of 9.37% and a net margin of 4.49%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. On average, equities analysts expect that ServiceNow, Inc. will post 2.68 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Moffett Nathanson upgraded ServiceNow from a “market perform” rating to an “outperform” rating and set a $549.00 price target on the stock in a research report on Thursday, October 27th. Robert W. Baird lowered their price target on ServiceNow from $500.00 to $475.00 in a research report on Wednesday, December 21st. Morgan Stanley upped their price target on ServiceNow from $520.00 to $612.00 and gave the company an “overweight” rating in a research report on Monday, December 19th. Wells Fargo & Company upped their price target on ServiceNow from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, January 26th. Finally, JPMorgan Chase & Co. upped their price target on ServiceNow from $485.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, January 26th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.47.
Insiders Place Their Bets
In other ServiceNow news, insider Christopher Bedi sold 377 shares of the stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $464.59, for a total value of $175,150.43. Following the completion of the sale, the insider now directly owns 16,990 shares in the company, valued at $7,893,384.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, insider Christopher Bedi sold 377 shares of the stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $464.59, for a total value of $175,150.43. Following the completion of the sale, the insider now directly owns 16,990 shares in the company, valued at $7,893,384.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $387.01, for a total value of $2,554,266.00. Following the completion of the sale, the director now owns 30,600 shares of the company’s stock, valued at $11,842,506. The disclosure for this sale can be found here. Insiders sold 67,313 shares of company stock worth $30,355,027 over the last ninety days. 0.28% of the stock is currently owned by corporate insiders.
About ServiceNow
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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.
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