Surevest LLC Has $5.38 Million Position in ServiceNow Inc (NYSE:NOW)
Surevest LLC cut its holdings in shares of ServiceNow Inc (NYSE:NOW) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,097 shares of the information technology services provider’s stock after selling 34 shares during the period. ServiceNow makes up 2.1% of Surevest LLC’s portfolio, making the stock its 7th biggest position. Surevest LLC’s holdings in ServiceNow were worth $5,382,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CX Institutional grew its position in ServiceNow by 16.7% in the 3rd quarter. CX Institutional now owns 161 shares of the information technology services provider’s stock worth $78,000 after purchasing an additional 23 shares during the period. Evercore Wealth Management LLC boosted its stake in shares of ServiceNow by 1.2% in the second quarter. Evercore Wealth Management LLC now owns 1,964 shares of the information technology services provider’s stock worth $796,000 after acquiring an additional 24 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of ServiceNow by 2.8% in the second quarter. Orion Portfolio Solutions LLC now owns 873 shares of the information technology services provider’s stock worth $354,000 after acquiring an additional 24 shares during the period. Meridian Wealth Management LLC grew its position in shares of ServiceNow by 1.1% during the third quarter. Meridian Wealth Management LLC now owns 2,293 shares of the information technology services provider’s stock worth $1,112,000 after purchasing an additional 24 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in ServiceNow by 43.9% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 82 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 25 shares during the period. Institutional investors own 90.05% of the company’s stock.
In related news, insider Fay Sien Goon sold 144 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $439.70, for a total value of $63,316.80. Following the completion of the transaction, the insider now directly owns 1,552 shares in the company, valued at approximately $682,414.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chirantan Jitendra Desai sold 1,559 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $430.44, for a total transaction of $671,055.96. Following the sale, the insider now owns 994 shares in the company, valued at approximately $427,857.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,187 shares of company stock valued at $33,294,276. 1.00% of the stock is currently owned by corporate insiders.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 29th. The information technology services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $1.03. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. ServiceNow had a net margin of 18.42% and a return on equity of 11.09%. ServiceNow’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. Research analysts forecast that ServiceNow Inc will post 0.99 earnings per share for the current fiscal year.
NOW has been the subject of a number of research analyst reports. Oppenheimer began coverage on shares of ServiceNow in a report on Thursday, July 30th. They set a “hold” rating for the company. Raymond James boosted their target price on ServiceNow from $385.00 to $490.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 30th. UBS Group assumed coverage on ServiceNow in a report on Wednesday. They set a “buy” rating and a $600.00 price target for the company. Piper Sandler boosted their price target on shares of ServiceNow from $360.00 to $430.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group increased their price objective on shares of ServiceNow from $465.00 to $515.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $465.42.
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.
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