Raymond James & Associates increased its stake in shares of ServiceNow Inc (NYSE:NOW) by 2.0% during the first quarter, Holdings Channel reports. The institutional investor owned 254,399 shares of the information technology services provider’s stock after buying an additional 5,086 shares during the quarter. Raymond James & Associates’ holdings in ServiceNow were worth $62,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Wealth Inc. purchased a new stake in ServiceNow in the first quarter valued at $25,000. We Are One Seven LLC purchased a new stake in ServiceNow in the fourth quarter valued at $27,000. Sandy Spring Bank boosted its holdings in ServiceNow by 118.0% in the first quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Claybrook Capital LLC purchased a new stake in ServiceNow in the fourth quarter valued at $28,000. Finally, Financial Management Professionals Inc. purchased a new stake in ServiceNow in the fourth quarter valued at $30,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Patricia L. Wadors sold 3,830 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $232.77, for a total value of $891,509.10. Following the completion of the transaction, the insider now owns 6,451 shares in the company, valued at approximately $1,501,599.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Scarpelli sold 29,553 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $237.88, for a total transaction of $7,030,067.64. Following the transaction, the chief financial officer now owns 31,971 shares of the company’s stock, valued at approximately $7,605,261.48. The disclosure for this sale can be found here. Insiders have sold a total of 119,584 shares of company stock valued at $29,135,337 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.10. The firm had revenue of $788.93 million during the quarter, compared to analysts’ expectations of $768.09 million. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The firm’s quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. Research analysts forecast that ServiceNow Inc will post 0.48 earnings per share for the current fiscal year.
NOW has been the topic of several recent research reports. Needham & Company LLC upped their price target on shares of ServiceNow to $267.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Canaccord Genuity upped their price target on shares of ServiceNow from $240.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, April 25th. UBS Group reaffirmed a “buy” rating and issued a $230.00 price target (up from $214.00) on shares of ServiceNow in a report on Thursday, January 31st. Jefferies Financial Group upped their price target on shares of ServiceNow from $242.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $260.00 target price on shares of ServiceNow in a research note on Friday, February 1st. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have assigned a strong buy rating to the company’s stock. ServiceNow has a consensus rating of “Buy” and a consensus price target of $268.24.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
Featured Story: Percentage Decliners
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow Inc (NYSE:NOW).
Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.