Public Employees Retirement Association of Colorado cut its holdings in ServiceNow (NYSE:NOW) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,206 shares of the information technology services provider’s stock after selling 1,784 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in ServiceNow were worth $5,328,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. ARP Americas LP acquired a new position in ServiceNow in the first quarter valued at approximately $662,000. Dupont Capital Management Corp acquired a new position in ServiceNow in the first quarter valued at approximately $235,000. D.B. Root & Company LLC acquired a new position in ServiceNow in the first quarter valued at approximately $920,000. Xact Kapitalforvaltning AB lifted its stake in ServiceNow by 8.5% in the fourth quarter. Xact Kapitalforvaltning AB now owns 25,330 shares of the information technology services provider’s stock valued at $3,303,000 after buying an additional 1,992 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in ServiceNow by 3.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,528 shares of the information technology services provider’s stock valued at $2,546,000 after buying an additional 590 shares during the period. 98.21% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on NOW shares. ValuEngine raised ServiceNow from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Macquarie upped their target price on ServiceNow from $165.00 to $172.00 and gave the stock an “outperform” rating in a research report on Thursday, April 26th. Zacks Investment Research lowered ServiceNow from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 27th. Stifel Nicolaus upped their target price on ServiceNow from $150.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, April 26th. Finally, JMP Securities upped their target price on ServiceNow from $165.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, April 26th. Five equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $167.67.
Shares of ServiceNow stock opened at $176.02 on Tuesday. ServiceNow has a 12-month low of $95.50 and a 12-month high of $176.89. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.08.
ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 25th. The information technology services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.19. ServiceNow had a negative return on equity of 12.24% and a negative net margin of 4.65%. The business had revenue of $589.20 million during the quarter, compared to the consensus estimate of $570.63 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. ServiceNow’s revenue was up 37.4% compared to the same quarter last year. equities analysts expect that ServiceNow will post 0.13 EPS for the current year.
In other ServiceNow news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $164.48, for a total value of $16,448,000.00. Following the completion of the transaction, the director now owns 195,076 shares in the company, valued at approximately $32,086,100.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Scarpelli sold 25,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $147.12, for a total value of $3,678,000.00. Following the completion of the transaction, the chief financial officer now owns 94,521 shares of the company’s stock, valued at approximately $13,905,929.52. The disclosure for this sale can be found here. Insiders sold a total of 521,172 shares of company stock valued at $83,658,013 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.
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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