Financial Management Professionals Inc. bought a new position in ServiceNow Inc (NYSE:NOW) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 168 shares of the information technology services provider’s stock, valued at approximately $30,000.
Other large investors have also modified their holdings of the company. North Star Investment Management Corp. bought a new position in shares of ServiceNow in the fourth quarter worth approximately $31,000. Stratos Wealth Partners LTD. purchased a new position in shares of ServiceNow during the third quarter valued at approximately $101,000. Alpha Windward LLC raised its holdings in shares of ServiceNow by 11.6% during the fourth quarter. Alpha Windward LLC now owns 604 shares of the information technology services provider’s stock valued at $108,000 after purchasing an additional 63 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of ServiceNow during the third quarter valued at approximately $117,000. Finally, Valeo Financial Advisors LLC raised its holdings in shares of ServiceNow by 89.6% during the third quarter. Valeo Financial Advisors LLC now owns 931 shares of the information technology services provider’s stock valued at $169,000 after purchasing an additional 440 shares during the last quarter. Institutional investors own 96.42% of the company’s stock.
Several research analysts have recently weighed in on NOW shares. Needham & Company LLC began coverage on shares of ServiceNow in a report on Monday, October 22nd. They set a “buy” rating and a $224.00 price objective for the company. Morgan Stanley reduced their target price on shares of ServiceNow from $198.00 to $188.00 and set an “overweight” rating for the company in a report on Tuesday, October 23rd. ValuEngine cut shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 20th. Atlantic Securities assumed coverage on shares of ServiceNow in a research note on Wednesday, January 9th. They issued a “neutral” rating and a $199.00 price objective for the company. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $235.00 price objective (up from $205.00) on shares of ServiceNow in a research note on Thursday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $223.07.
ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 30th. The information technology services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. ServiceNow had a negative net margin of 1.02% and a positive return on equity of 4.15%. The business had revenue of $715.44 million for the quarter, compared to the consensus estimate of $717.73 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities research analysts expect that ServiceNow Inc will post 0.35 EPS for the current year.
In related news, Director Ronald E. F. Codd sold 15,000 shares of ServiceNow stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $166.52, for a total value of $2,497,800.00. Following the completion of the sale, the director now directly owns 43,428 shares in the company, valued at approximately $7,231,630.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald E. F. Codd sold 100,000 shares of ServiceNow stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $220.08, for a total transaction 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 $17,260,434.24. The disclosure for this sale can be found here. Insiders sold a total of 302,791 shares of company stock worth $59,449,506 over the last 90 days. Company insiders own 1.60% of the company’s stock.
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ServiceNow Company Profile
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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