Cordasco Financial Network bought a new stake in shares of ServiceNow Inc (NYSE:NOW) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 215 shares of the information technology services provider’s stock, valued at approximately $53,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Standard Life Aberdeen plc increased its position in shares of ServiceNow by 3.9% during the 3rd quarter. Standard Life Aberdeen plc now owns 9,967 shares of the information technology services provider’s stock valued at $1,950,000 after purchasing an additional 376 shares during the last quarter. LPL Financial LLC increased its holdings in ServiceNow by 56.4% in the 3rd quarter. LPL Financial LLC now owns 13,571 shares of the information technology services provider’s stock worth $2,655,000 after acquiring an additional 4,892 shares in the last quarter. Capital Bank & Trust Co increased its holdings in ServiceNow by 1.0% in the 3rd quarter. Capital Bank & Trust Co now owns 32,643 shares of the information technology services provider’s stock worth $6,386,000 after acquiring an additional 321 shares in the last quarter. Capital International Investors purchased a new stake in ServiceNow during the 3rd quarter valued at approximately $480,663,000. Finally, Capital Research Global Investors grew its holdings in ServiceNow by 75.0% during the 3rd quarter. Capital Research Global Investors now owns 5,257,914 shares of the information technology services provider’s stock valued at $1,028,606,000 after buying an additional 2,254,082 shares in the last quarter. Hedge funds and other institutional investors own 97.30% of the company’s stock.

A number of brokerages have issued reports on NOW. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow to $245.00 and gave the company an “overweight” rating in a report on Thursday, January 31st. Credit Suisse Group reaffirmed an “outperform” rating and set a $225.00 price objective (up from $215.00) on shares of ServiceNow in a report on Thursday, January 31st. Canaccord Genuity reaffirmed a “buy” rating and set a $240.00 price objective (up from $210.00) on shares of ServiceNow in a report on Thursday, January 31st. Goldman Sachs Group increased their price objective on shares of ServiceNow from $260.00 to $275.00 and gave the company a “buy” rating in a report on Monday, February 25th. They noted that the move was a valuation call. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $210.00 price objective (up from $180.00) on shares of ServiceNow in a report on Thursday, January 31st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $231.74.

In other ServiceNow news, insider David Schneider sold 3,414 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $243.00, for a total value of $829,602.00. Following the completion of the transaction, the insider now directly owns 50,932 shares of the company’s stock, valued at $12,376,476. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 22,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $238.46, for a total value of $5,246,120.00. Following the completion of the transaction, the director now directly owns 1,770 shares of the company’s stock, valued at $422,074.20. The disclosure for this sale can be found here. Insiders have sold 238,929 shares of company stock valued at $52,981,438 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

NYSE NOW traded up $4.87 during trading on Wednesday, hitting $243.63. The company’s stock had a trading volume of 31,267 shares, compared to its average volume of 2,018,026. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.16. The company has a market cap of $42.82 billion, a PE ratio of 1,216.95, a P/E/G ratio of 24.28 and a beta of 1.44. ServiceNow Inc has a fifty-two week low of $147.63 and a fifty-two week high of $251.65.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 30th. The information technology services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. ServiceNow had a positive return on equity of 3.95% and a negative net margin of 1.02%. The business had revenue of $715.44 million during the quarter, compared to the consensus estimate of $717.73 million. During the same quarter last year, the company earned $0.37 earnings per share. The company’s quarterly revenue was up 30.3% on a year-over-year basis. On average, sell-side analysts predict that ServiceNow Inc will post 0.35 earnings per share 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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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