Tocqueville Asset Management L.P. lessened its stake in ServiceNow Inc (NYSE:NOW) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,975 shares of the information technology services provider’s stock after selling 4,900 shares during the period. Tocqueville Asset Management L.P.’s holdings in ServiceNow were worth $21,192,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of NOW. Jennison Associates LLC increased its holdings in ServiceNow by 282.1% during the 4th quarter. Jennison Associates LLC now owns 2,406,077 shares of the information technology services provider’s stock worth $428,402,000 after purchasing an additional 1,776,380 shares during the last quarter. Coatue Management LLC increased its holdings in ServiceNow by 38.6% during the 4th quarter. Coatue Management LLC now owns 2,129,852 shares of the information technology services provider’s stock worth $379,220,000 after purchasing an additional 592,759 shares during the last quarter. American Century Companies Inc. grew its position in shares of ServiceNow by 14.6% in the 4th quarter. American Century Companies Inc. now owns 1,772,188 shares of the information technology services provider’s stock worth $315,538,000 after acquiring an additional 226,028 shares in the last quarter. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $297,403,000. Finally, Geode Capital Management LLC grew its position in shares of ServiceNow by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,536,350 shares of the information technology services provider’s stock worth $273,336,000 after acquiring an additional 55,767 shares in the last quarter.
Several research analysts have recently commented on NOW shares. KeyCorp lifted their target price on ServiceNow from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Royal Bank of Canada reiterated a “top pick” rating and issued a $230.00 target price (up previously from $210.00) on shares of ServiceNow in a research report on Thursday, January 31st. BMO Capital Markets lifted their target price on ServiceNow from $235.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. ValuEngine upgraded ServiceNow from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Finally, Cowen lifted their target price on ServiceNow from $260.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $268.24.
Shares of NYSE NOW traded up $4.16 during trading hours on Friday, hitting $268.95. 1,181,700 shares of the company’s stock were exchanged, compared to its average volume of 1,978,308. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $50.31 billion, a PE ratio of 1,344.75, a P/E/G ratio of 20.00 and a beta of 1.45. ServiceNow Inc has a 1-year low of $147.63 and a 1-year high of $281.74.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The firm had revenue of $788.93 million during the quarter, compared to analysts’ expectations of $768.09 million. ServiceNow had a positive return on equity of 1.64% and a negative net margin of 1.38%. The company’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 EPS. As a group, equities research analysts forecast that ServiceNow Inc will post 0.48 EPS for the current fiscal year.
In other news, insider Patricia L. Wadors sold 1,559 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $263.61, for a total value of $410,967.99. Following the transaction, the insider now directly owns 3,093 shares in the company, valued at approximately $815,345.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Schneider sold 3,414 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $236.02, for a total value of $805,772.28. Following the sale, the insider now directly owns 44,259 shares in the company, valued at approximately $10,446,009.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,311 shares of company stock valued at $37,006,504. 1.00% 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 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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