Piedmont Investment Advisors Inc. lowered its holdings in shares of ServiceNow Inc (NYSE:NOW) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,931 shares of the information technology services provider’s stock after selling 2,075 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in ServiceNow were worth $2,302,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. We Are One Seven LLC acquired a new stake in ServiceNow in the 4th quarter valued at approximately $27,000. Financial Management Professionals Inc. acquired a new stake in ServiceNow in the 4th quarter valued at approximately $30,000. Shine Investment Advisory Services Inc. raised its position in ServiceNow by 50.5% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 167 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 56 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in ServiceNow in the 4th quarter valued at approximately $31,000. Finally, Optimum Investment Advisors raised its position in ServiceNow by 195.0% in the 4th quarter. Optimum Investment Advisors now owns 295 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 195 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors.
NOW has been the subject of a number of analyst reports. ValuEngine downgraded ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 20th. Atlantic Securities initiated coverage on ServiceNow in a research note on Wednesday, January 9th. They issued a “neutral” rating and a $199.00 price target for the company. BMO Capital Markets restated an “outperform” rating and issued a $235.00 price target (up from $205.00) on shares of ServiceNow in a research note on Thursday, January 31st. Stifel Nicolaus restated a “hold” rating and issued a $210.00 price target (up from $180.00) on shares of ServiceNow in a research note on Thursday, January 31st. They noted that the move was a valuation call. Finally, UBS Group restated a “buy” rating and issued a $230.00 price target (up from $214.00) on shares of ServiceNow in a research note on Thursday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and three have issued a strong buy rating to the stock. ServiceNow currently has a consensus rating of “Buy” and an average price target of $223.07.
Shares of NYSE NOW opened at $229.50 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. ServiceNow Inc has a 12 month low of $147.63 and a 12 month high of $237.49. The company has a market cap of $42.06 billion, a PE ratio of 1,147.50, a price-to-earnings-growth ratio of 24.03 and a beta of 1.43.
ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 30th. The information technology services provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.14. ServiceNow had a positive return on equity of 4.15% and a negative net margin of 1.02%. The company had revenue of $715.44 million during the quarter, compared to the consensus estimate of $717.73 million. During the same period in the previous year, the company posted $0.37 EPS. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, research analysts expect that ServiceNow Inc will post 0.35 EPS for the current year.
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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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