Benjamin F. Edwards & Company Inc. increased its holdings in shares of ServiceNow Inc (NYSE:NOW) by 641.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,186 shares of the information technology services provider’s stock after purchasing an additional 1,026 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in ServiceNow were worth $211,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. We Are One Seven LLC bought a new stake in ServiceNow during the 4th quarter worth approximately $27,000. Financial Management Professionals Inc. bought a new stake in ServiceNow during the 4th quarter worth approximately $30,000. Shine Investment Advisory Services Inc. increased its stake in ServiceNow by 50.5% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 167 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 56 shares in the last quarter. North Star Investment Management Corp. bought a new stake in ServiceNow during the 4th quarter worth approximately $31,000. Finally, Evolution Wealth Advisors LLC bought a new stake in ServiceNow during the 4th quarter worth approximately $71,000. 94.59% of the stock is owned by institutional investors and hedge funds.
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A number of analysts recently issued reports on the company. Goldman Sachs Group reissued a “buy” rating and set a $260.00 target price on shares of ServiceNow in a research note on Friday, February 1st. JPMorgan Chase & Co. upped their price target on ServiceNow to $245.00 and gave the stock an “overweight” rating in a research report on Thursday, January 31st. Jefferies Financial Group upped their price target on ServiceNow to $242.00 and gave the stock a “buy” rating in a research report on Thursday, January 31st. JMP Securities reaffirmed a “mkt outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of ServiceNow in a research report on Thursday, January 31st. Finally, Citigroup reaffirmed a “buy” rating and set a $240.00 price target (up previously from $200.00) on shares of ServiceNow in a research report on Thursday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $223.07.
NYSE NOW opened at $228.56 on Friday. The company has a market capitalization of $40.98 billion, a PE ratio of 1,142.80, a P/E/G ratio of 23.42 and a beta of 1.43. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 1.26. ServiceNow Inc has a 12 month low of $137.60 and a 12 month high of $229.50.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 30th. The information technology services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The company had revenue of $715.44 million during the quarter, compared to the consensus estimate of $717.73 million. ServiceNow had a positive return on equity of 4.15% and a negative net margin of 1.02%. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. On average, sell-side analysts forecast that ServiceNow Inc will post 0.35 earnings per share for the current year.
In other news, Director Ronald E. F. Codd sold 100,000 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $220.08, for a total value of $22,008,000.00. Following the completion of the sale, the director now owns 78,428 shares of the company’s stock, valued at approximately $17,260,434.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederic B. Luddy sold 32,500 shares of the stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $169.59, for a total value of $5,511,675.00. Following the completion of the sale, the director now directly owns 282,383 shares of the company’s stock, valued at approximately $47,889,332.97. The disclosure for this sale can be found here. In the last three months, insiders sold 320,468 shares of company stock valued at $60,781,921. 1.60% of the stock is currently owned by insiders.
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ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.
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