ServiceNow, Inc. is a cloud computing company that provides digital workflows on a single enterprise cloud platform. The company has a market capitalization of $89.52 billion and its shares opened at $441.00 on Friday. In its latest earnings report, ServiceNow beat the consensus estimate of $0.60 by $0.28, reporting earnings per share of $0.88. The company had a net margin of 4.49% and a return on equity of 9.37%. A number of research firms have issued a buy rating for ServiceNow with an average rating of “Moderate Buy” and a consensus price target of $517.47. In other news, a few insiders recently sold ServiceNow shares, including Director Paul Edward Chamberlain who sold 90 shares of the company’s stock and CEO William R. Mcdermott who sold 2,483 shares of the stock. Finally, to stay up-to-date with ServiceNow and related companies, investors can visit HoldingsChannel.com to get the latest 13F filings and insider trades.
Wedmont Private Capital Increases ServiceNow Holdings by 6.6% in Q4
According to its recent Form 13F filing with the Securities and Exchange Commission, Wedmont Private Capital increased its holdings in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 6.6% in the fourth quarter. Wedmont Private Capital acquired 57 shares of the information technology services provider’s stock, which is currently valued at $22,000.
The move comes after a number of other large investors also recently bought and sold shares of ServiceNow. Massmutual Trust Co. FSB ADV boosted its holdings by 18.0% to 8,059 shares worth $3,129,000. Spence Asset Management lifted its position by 1.3% to 34,573 shares worth $13,424,000. General Partner Inc. also acquired a new position worth $82,000. Additionally, Fulton Bank N.A. lifted its position by 13.5% to 1,501 shares worth $583,000, and Sycomore Asset Management lifted its position by 24.5% to 7,221 shares worth $2,757,000.
Institutional investors currently own 86.31% of ServiceNow’s stock, indicating growing interest in the information technology services provider.
Over the last 90 days, insiders of ServiceNow, Inc. have sold over 63,000 shares of company stock valued at $28.8 million. Most recently, Director Paul Edward Chamberlain sold 90 shares of the stock on February 8th at an average price of $464.59, for a total transaction of $41,813.10. Following the sale, Chamberlain now directly owns 10,461 shares of the company’s stock, valued at $4,860,075.99. CEO William R. McDermott also sold 2,483 shares of the stock on February 1st at an average price of $455.03, for a total transaction of $1,129,831.05. Following the sale, McDermott now directly owns 53,117 shares in the company, valued at $24,169,647.91.
Insider sales can be an indication of a lack of confidence in the company’s future prospects or simply a desire to take profits. It is important to keep an eye on insider trading activity as it may provide insights into the company’s current and future performance.
ServiceNow Stock Performance
Shares of ServiceNow stock opened at $441.00 on Friday, with a market capitalization of $89.52 billion. The company has a current ratio of 1.11 and a quick ratio of 1.11, while its debt-to-equity ratio is 0.30. The stock has a price-to-earnings ratio of 275.63, a P/E/G ratio of 5.66, and a beta of 1.03. Over the past year, ServiceNow’s stock has traded between a low of $337.00 and a high of $601.62, with a 50-day moving average price of $439.00 and a 200-day moving average price of $412.18.
ServiceNow Beats Consensus Estimates in Q4 Earnings Report
ServiceNow, Inc. (NYSE:NOW – Get Rating) announced its quarterly earnings data on January 25th, reporting earnings per share of $0.88 for the quarter, beating the consensus estimate of $0.60 by $0.28. The information technology services provider also reported revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. ServiceNow had a net margin of 4.49% and a return on equity of 9.37%. Analysts predict that the company will post 2.64 earnings per share for the current fiscal year.
Analysts Weigh In, Set New Price Targets for ServiceNow
A number of research firms have released reports on ServiceNow, Inc. (NYSE:NOW – Get Rating) and set new price targets. Robert W. Baird cut their target price from $500.00 to $475.00, while Wolfe Research boosted their target price from $500.00 to $510.00 and gave the stock an “outperform” rating. Deutsche Bank Aktiengesellschaft also cut their target price from $625.00 to $525.00 and assigned a “buy” rating for the company. Wells Fargo & Company, on the other hand, boosted their target price from $550.00 to $575.00 and gave the stock an “overweight” rating. Finally, Oppenheimer upped their price objective from $450.00 to $500.00 and gave the company an “outperform” rating. The consensus rating for the company is currently “Moderate Buy”, with two analysts rating the stock as a sell, one rating it as hold, and twenty-six rating it as a buy.
ServiceNow Company Profile
ServiceNow, Inc. (Get Rating) provides enterprise cloud computing solutions, delivering digital workflows on a single enterprise cloud platform called the Now Platform. The company’s product portfolio is focused on providing Information Technology, Employee, and Customer workflows. It was founded by Frederic B. Luddy in 2004 and is headquartered in Santa Clara, California.
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