Utah Retirement Systems reduced its position in ServiceNow, Inc. (NYSE:NOW) by 4.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 37,370 shares of the information technology services provider’s stock after selling 1,600 shares during the quarter. Utah Retirement Systems’ holdings in ServiceNow were worth $18,689,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. OLD Second National Bank of Aurora acquired a new position in shares of ServiceNow during the 1st quarter valued at about $25,000. Manchester Financial Inc. increased its holdings in shares of ServiceNow by 685.7% during the 1st quarter. Manchester Financial Inc. now owns 55 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 48 shares during the last quarter. Reilly Financial Advisors LLC increased its holdings in shares of ServiceNow by 56.8% during the 1st quarter. Reilly Financial Advisors LLC now owns 58 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 21 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in shares of ServiceNow by 1,160.0% during the 1st quarter. Wolverine Asset Management LLC now owns 63 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 58 shares during the last quarter. Finally, Evolution Wealth Advisors LLC increased its holdings in shares of ServiceNow by 530.0% during the 1st quarter. Evolution Wealth Advisors LLC now owns 63 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 53 shares during the last quarter. 85.45% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on NOW. Wolfe Research lowered their price objective on ServiceNow from $675.00 to $600.00 and set an “outperform” rating on the stock in a report on Friday, June 4th. Needham & Company LLC lowered their target price on ServiceNow from $595.00 to $591.00 and set a “buy” rating on the stock in a report on Thursday, April 29th. Piper Sandler raised their price objective on ServiceNow from $550.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, July 9th. BMO Capital Markets reduced their price objective on ServiceNow from $590.00 to $575.00 and set an “outperform” rating for the company in a research report on Thursday, April 29th. Finally, JMP Securities raised their price objective on ServiceNow from $540.00 to $568.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 13th. Three research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. ServiceNow currently has an average rating of “Buy” and a consensus price target of $613.32.
Shares of ServiceNow stock traded up $5.38 during trading on Thursday, reaching $572.51. 9,431 shares of the company were exchanged, compared to its average volume of 939,276. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.53. ServiceNow, Inc. has a twelve month low of $414.60 and a twelve month high of $598.37. The business’s 50-day simple moving average is $513.77. The stock has a market cap of $113.04 billion, a price-to-earnings ratio of 756.17, a price-to-earnings-growth ratio of 16.85 and a beta of 0.93.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 28th. The information technology services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.17. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. ServiceNow had a return on equity of 9.32% and a net margin of 3.15%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 earnings per share. On average, analysts expect that ServiceNow, Inc. will post 1.21 earnings per share for the current fiscal year.
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. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.
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