Corundum Group Inc. Has $346,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Corundum Group Inc. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 10.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 387 shares of the information technology services provider’s stock after selling 46 shares during the quarter. Corundum Group Inc.’s holdings in ServiceNow were worth $346,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in ServiceNow in the first quarter worth $25,000. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the period. Ridgewood Investments LLC bought a new stake in ServiceNow in the 2nd quarter valued at about $32,000. Finally, TFC Financial Management Inc. raised its stake in ServiceNow by 466.7% during the 1st quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after buying an additional 42 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock worth $5,935,447 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NOW. Stifel Nicolaus boosted their price objective on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. TD Cowen upped their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. Robert W. Baird boosted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $914.15.

ServiceNow Trading Up 0.5 %

NYSE:NOW opened at $921.75 on Monday. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $874.61 and its 200 day moving average is $792.22. The stock has a market capitalization of $188.96 billion, a PE ratio of 98.58, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.