M Holdings Securities Inc. Acquires New Stake in ServiceNow, Inc. (NYSE:NOW)

M Holdings Securities Inc. acquired a new stake in ServiceNow, Inc. (NYSE:NOWGet Rating) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 668 shares of the information technology services provider’s stock, valued at approximately $372,000.

Several other institutional investors have also bought and sold shares of NOW. Chilton Capital Management LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth $25,000. OLD Second National Bank of Aurora purchased a new stake in shares of ServiceNow during the first quarter worth $28,000. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow during the first quarter worth $29,000. Delos Wealth Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth $40,000. Finally, GoalVest Advisory LLC purchased a new stake in shares of ServiceNow during the first quarter worth $43,000. Hedge funds and other institutional investors own 87.49% of the company’s stock.

ServiceNow Price Performance

NOW opened at $425.80 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52-week low of $406.47 and a 52-week high of $707.60. The stock has a market capitalization of $86.01 billion, a PE ratio of 467.91, a price-to-earnings-growth ratio of 8.86 and a beta of 0.94. The stock’s 50 day moving average price is $457.68 and its 200-day moving average price is $483.42.

ServiceNow (NYSE:NOWGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current year.

Insider Buying and Selling

In related news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now directly owns 33,600 shares of the company’s stock, valued at $16,699,536. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 4,262 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $439.10, for a total value of $1,871,444.20. Following the sale, the chief financial officer now directly owns 4,262 shares of the company’s stock, valued at $1,871,444.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the business’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares in the company, valued at $16,699,536. The disclosure for this sale can be found here. Insiders have sold a total of 30,256 shares of company stock valued at $14,019,372 over the last ninety days. Company insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NOW. KeyCorp dropped their target price on ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Truist Financial decreased their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Cowen decreased their price target on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Jefferies Financial Group decreased their price target on shares of ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. Finally, UBS Group decreased their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $598.84.

ServiceNow Company Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

See Also

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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