Kestra Private Wealth Services LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 57.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 698 shares of the information technology services provider’s stock after selling 941 shares during the period. Kestra Private Wealth Services LLC’s holdings in ServiceNow were worth $271,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. bought a new stake in ServiceNow during the fourth quarter worth approximately $29,000. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $29,000. Romano Brothers AND Company purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $33,000. MV Capital Management Inc. lifted its position in shares of ServiceNow by 87.2% in the 4th quarter. MV Capital Management Inc. now owns 88 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 41 shares in the last quarter. Finally, Vigilant Capital Management LLC lifted its position in shares of ServiceNow by 300.0% in the 3rd quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 72 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, insider Christopher Bedi sold 377 shares of the business’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $464.59, for a total transaction of $175,150.43. Following the transaction, the insider now owns 16,990 shares in the company, valued at approximately $7,893,384.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Jacqueline P. Canney sold 1,083 shares of the business’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $461.03, for a total transaction of $499,295.49. Following the transaction, the insider now owns 267 shares in the company, valued at approximately $123,095.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Bedi sold 377 shares of the business’s stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $464.59, for a total transaction of $175,150.43. Following the transaction, the insider now owns 16,990 shares in the company, valued at approximately $7,893,384.10. The disclosure for this sale can be found here. Insiders sold a total of 65,629 shares of company stock valued at $29,974,024 in the last quarter. Insiders own 0.28% of the company’s stock.
ServiceNow Stock Down 0.1 %
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.28. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. ServiceNow had a net margin of 4.49% and a return on equity of 9.37%. As a group, analysts forecast that ServiceNow, Inc. will post 2.66 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Robert W. Baird upgraded shares of ServiceNow from a “neutral” rating to an “outperform” rating and upped their price target for the company from $475.00 to $548.00 in a research report on Tuesday, April 4th. BMO Capital Markets increased their target price on shares of ServiceNow from $475.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. Citigroup lifted their target price on shares of ServiceNow from $506.00 to $562.00 in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $485.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, January 26th. Finally, Wolfe Research lifted their target price on shares of ServiceNow from $500.00 to $510.00 and gave the company an “outperform” rating in a research note on Thursday, January 26th. One analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $528.34.
About ServiceNow
ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.
Further Reading
- Get a free copy of the StockNews.com research report on ServiceNow (NOW)
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