TCI Wealth Advisors Inc. lessened its position in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 21.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,215 shares of the information technology services provider's stock after selling 338 shares during the period. TCI Wealth Advisors Inc.'s holdings in ServiceNow were worth $459,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. High Net Worth Advisory Group LLC acquired a new position in ServiceNow in the 1st quarter worth about $29,000. Tortoise Investment Management LLC grew its position in shares of ServiceNow by 55.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider's stock valued at $29,000 after buying an additional 22 shares during the last quarter. Vigilant Capital Management LLC grew its position in shares of ServiceNow by 300.0% in the 3rd quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider's stock valued at $36,000 after buying an additional 72 shares during the last quarter. Motco bought a new stake in shares of ServiceNow in the 3rd quarter valued at about $37,000. Finally, Ronald Blue Trust Inc. bought a new stake in shares of ServiceNow in the 2nd quarter valued at about $54,000. Institutional investors and hedge funds own 86.31% of the company's stock.
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ServiceNow Stock Performance
Shares of ServiceNow stock opened at $472.22 on Friday. The company has a market cap of $95.86 billion, a PE ratio of 295.14, a price-to-earnings-growth ratio of 6.23 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $337.00 and a 52 week high of $621.41. The business has a 50 day moving average price of $409.53 and a 200-day moving average price of $417.82. The company has a quick ratio of 1.24, a current ratio of 1.11 and a debt-to-equity ratio of 0.30.
ServiceNow (NYSE:NOW – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The information technology services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.60 by $0.28. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. ServiceNow had a return on equity of 9.37% and a net
margin of 4.49%. Equities analysts anticipate that ServiceNow, Inc. will post 2.68 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
NOW has been the topic of a number of analyst reports. Barclays reduced their price target on ServiceNow from $496.00 to $495.00 and set an "overweight" rating on the stock in a research report on Thursday, January 26th. Mizuho upped their price target on ServiceNow from $480.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, October 27th. Guggenheim reduced their price target on ServiceNow to $500.00 in a research report on Thursday, October 27th. Cowen upped their price target on ServiceNow from $510.00 to $520.00 in a research report on Thursday, October 27th. Finally, Moffett Nathanson upgraded ServiceNow from a "market perform" rating to an "outperform" rating and set a $549.00 target price on the stock in a research report on Thursday, October 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $517.47.
Insider Activity at ServiceNow
In related news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $387.01, for a total transaction of $2,554,266.00. Following the completion of the sale, the director now directly owns 30,600 shares of the company's stock, valued at $11,842,506. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $387.01, for a total transaction of $2,554,266.00. Following the completion of the sale, the director now directly owns 30,600 shares of the company's stock, valued at $11,842,506. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 1,083 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $461.03, for a total value of $499,295.49. Following the sale, the insider now directly owns 267 shares of the company's stock, valued at $123,095.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,960 shares of company stock valued at $4,893,041. 0.28% of the stock is owned by insiders.
ServiceNow Profile
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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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