The Vanguard Group, Inc. has recently announced that it has increased stake in ServiceNow Inc (NYSE:NOW) by 0.67%. After grabbing 16.89 million shares, the institutional investor is now in possession of 0.11 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.24% having worth around $11.94 billion. Moreover, Geode Capital Management LLC increased its share by 86692.0 to have a control over 3.79 million shares. And Fidelity Management & Research Co raised its holdings to 0.58 million shares by acquiring 3.66 million shares or 1.79% of the stake.
ServiceNow Inc (NOW) concluded trading on Thursday at a closing price of $766.69, with 3.11 million shares of worth about $2.39 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 32.81% during that period and on Thursday, January 25 the price saw a gain of about 0.43%. Currently the company’s common shares owned by public are about 205.00M shares, out of which, 203.88M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 452 times over the past 12 months. They bought 181,292 shares in 195 of the transactions. In 257 selling transactions, insiders dumped 215,139 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and American Funds Growth Fund of Ame are the top 3 mutual funds which are holding stakes in ServiceNow Inc Vanguard Total Stock Market ETF is currently holding 6.43 million shares of worth totaling $4.54 billion. The company recently came buying 39702.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 33724.0 shares, after which its hold over company’s outstanding shares expand to 2.44%, leaving 5.01 million shares with the mutual fund that have a worth of about $3.54 billion. American Funds Growth Fund of Ame, after selling 2.89 million shares, have now control over 1.41% of the stake in the company. It holds 459.0 shares of worth $2.04 billion.
However, the stock later moved at a day high price of 783.88, or with a gain of 0.43%. Stock saw a price change of 2.78% in past 5 days and over the past one month there was a price change of 9.91%. Year-to-date (YTD), NOW shares are showing a performance of 8.52% which increased to 72.91% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $405.37 but also hit the highest price of $775.96 during that period. The average intraday trading volume for ServiceNow Inc shares is 1.23 million. The stock is currently trading 7.16% above its 20-day simple moving average (SMA20), while that difference is up 10.37% for SMA50 and it goes to 31.91% higher than SMA200.
The Vanguard Group, Inc. acquired 16.89 million shares of ServiceNow Inc having value of about $11.94 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.11 million shares in the company valued at close to $86169822.48, or have control over 0.67% stake in the company. ServiceNow Inc (NYSE: NOW) currently have 205.00M outstanding shares and institutions hold larger chunk of about 88.58% of that. Holding of mutual funds in the company is about 52.45% while other institutional holders and individual stake holders have control over 9.21% and 36.97% of the stake respectively.
The stock has a current market capitalization of $157.17B and its 3Y-monthly beta is at 0.99. PE ratio of stock for trailing 12 months is 91.04, while it has posted earnings per share of $8.42 in the same period. Its PEG reads 3.41 and has Quick Ratio of 1.00 while making debt-to-equity ratio of 0.30. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NOW, volatility over the week remained 2.01% while standing at 1.76% over the month.
Analysts are in expectations that ServiceNow Inc (NOW) stock would likely to be making an EPS of $Nokia Corporation Sponsored in the current quarter, while forecast for next quarter EPS is $3.80 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Snowflake Inc. which is $Northrop Grumman Corporation at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Dow Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 21.47% while it is estimated to increase by 21.79% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Needham on January 22, 2024 offering a Buy rating for the stock and assigned a target price range of between $660 and $900 to it.
