Gryphon Financial Partners LLC purchased a new stake in ServiceNow Inc (NYSE:NOW) in the third quarter, HoldingsChannel.com reports. The fund purchased 1,429 shares of the information technology services provider’s stock, valued at approximately $280,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. acquired a new stake in ServiceNow in the 3rd quarter valued at about $101,000. Alpha Windward LLC acquired a new stake in ServiceNow in the 2nd quarter valued at about $102,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in ServiceNow in the 3rd quarter valued at about $117,000. Valeo Financial Advisors LLC grew its stake in ServiceNow by 89.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 931 shares of the information technology services provider’s stock valued at $169,000 after acquiring an additional 440 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in ServiceNow in the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 95.25% of the company’s stock.
In other ServiceNow news, CFO Michael Scarpelli sold 30,037 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $182.89, for a total transaction of $5,493,466.93. Following the sale, the chief financial officer now directly owns 68,748 shares of the company’s stock, valued at approximately $12,573,321.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chirantan Jitendra Desai sold 6,962 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $180.17, for a total transaction of $1,254,343.54. Following the sale, the insider now directly owns 3,460 shares in the company, valued at $623,388.20. The disclosure for this sale can be found here. Insiders have sold a total of 150,844 shares of company stock worth $27,759,604 over the last ninety days. 1.60% of the stock is owned by corporate insiders.
NOW has been the topic of a number of research reports. Piper Jaffray Companies reissued an “overweight” rating and issued a $210.00 price objective on shares of ServiceNow in a research note on Friday, July 20th. Bank of America increased their price objective on shares of ServiceNow from $203.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. BMO Capital Markets increased their price objective on shares of ServiceNow from $177.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Canaccord Genuity increased their price objective on shares of ServiceNow from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Finally, Stifel Nicolaus increased their price objective on shares of ServiceNow from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $203.44.
ServiceNow stock opened at $177.59 on Friday. ServiceNow Inc has a 12-month low of $112.84 and a 12-month high of $206.29. The stock has a market cap of $33.96 billion, a price-to-earnings ratio of -169.13, a PEG ratio of 35.40 and a beta of 1.25. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.28 and a current ratio of 1.28.
ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 24th. The information technology services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.61. ServiceNow had a negative net margin of 2.52% and a negative return on equity of 3.15%. The company had revenue of $673.10 million for the quarter, compared to analysts’ expectations of $659.41 million. As a group, equities research analysts expect that ServiceNow Inc will post 0.16 EPS for the current fiscal year.
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ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.
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