LA Financiere DE L Echiquier cut its stake in shares of ServiceNow Inc (NYSE:NOW) by 9.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,768 shares of the information technology services provider’s stock after selling 1,432 shares during the period. ServiceNow accounts for about 0.6% of LA Financiere DE L Echiquier’s portfolio, making the stock its 22nd biggest position. LA Financiere DE L Echiquier’s holdings in ServiceNow were worth $3,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Financial Gravity Wealth Inc. purchased a new stake in shares of ServiceNow in the first quarter worth approximately $25,000. Spectrum Management Group Inc. purchased a new stake in shares of ServiceNow in the first quarter worth approximately $37,000. We Are One Seven LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $27,000. Claybrook Capital LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $28,000. Finally, West Oak Capital LLC raised its holdings in shares of ServiceNow by 120.0% in the first quarter. West Oak Capital LLC now owns 165 shares of the information technology services provider’s stock worth $41,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 97.32% of the company’s stock.
NOW traded down $0.32 during trading on Wednesday, hitting $243.23. 48,777 shares of the stock were exchanged, compared to its average volume of 1,970,100. The company has a market capitalization of $44.17 billion, a P/E ratio of 1,216.75, a PEG ratio of 26.77 and a beta of 1.44. ServiceNow Inc has a 1 year low of $147.63 and a 1 year high of $251.65. The company has a quick ratio of 1.17, a current ratio of 1.16 and a debt-to-equity ratio of 0.60.
Several brokerages have recently weighed in on NOW. Piper Jaffray Companies increased their price target on ServiceNow from $230.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Barclays increased their price target on ServiceNow from $235.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Needham & Company LLC increased their price target on ServiceNow to $267.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America reiterated a “buy” rating and issued a $235.00 price target (up from $217.00) on shares of ServiceNow in a report on Thursday, January 31st. Finally, ValuEngine upgraded ServiceNow from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $235.78.
In other ServiceNow news, insider David Schneider sold 7,750 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $220.00, for a total transaction of $1,705,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ronald E. F. Codd sold 100,000 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $220.08, for a total value of $22,008,000.00. Following the sale, the director now directly owns 78,428 shares in the company, valued at approximately $17,260,434.24. The disclosure for this sale can be found here. Insiders have sold a total of 233,071 shares of company stock worth $53,256,230 in the last ninety days. Insiders own 1.60% of the company’s stock.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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