ServiceNow, Inc. $NOW Holdings Lifted by Cardano Risk Management B.V.

Cardano Risk Management B.V. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 6.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 484,785 shares of the information technology services provider’s stock after buying an additional 31,119 shares during the period. Cardano Risk Management B.V.’s holdings in ServiceNow were worth $48,129,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Wealth Watch Advisors INC purchased a new stake in shares of ServiceNow in the third quarter worth approximately $29,000. Kelleher Financial Advisors purchased a new position in ServiceNow during the third quarter valued at approximately $50,000. Pin Oak Investment Advisors Inc. grew its position in ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares in the last quarter. Jupiter Wealth Management LLC purchased a new position in ServiceNow during the second quarter valued at approximately $154,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 135 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of research analyst reports. BTIG Research reiterated a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a research report on Wednesday, July 22nd. Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Wednesday, July 1st. Citic Securities dropped their price target on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Raymond James Financial cut their price objective on ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Robert W. Baird lifted their price objective on ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.39.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $124.91 on Friday. The stock has a market capitalization of $129.16 billion, a P/E ratio of 78.07, a P/E/G ratio of 2.20 and a beta of 0.94. The business has a 50-day moving average of $106.73 and a two-hundred day moving average of $105.86. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the business earned $0.81 EPS. The firm’s revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 18,993 shares of company stock valued at $1,716,436 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.