National Pension Service lowered its position in ServiceNow Inc (NYSE:NOW) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 170,968 shares of the information technology services provider’s stock after selling 3,493 shares during the period. National Pension Service owned about 0.10% of ServiceNow worth $22,293,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of ServiceNow by 5.6% in the second quarter. Vanguard Group Inc. now owns 13,985,997 shares of the information technology services provider’s stock worth $1,482,516,000 after acquiring an additional 741,341 shares during the period. FMR LLC raised its position in shares of ServiceNow by 3.2% in the second quarter. FMR LLC now owns 3,383,647 shares of the information technology services provider’s stock worth $358,666,000 after acquiring an additional 103,578 shares during the period. Capital World Investors acquired a new position in shares of ServiceNow in the second quarter worth about $259,594,000. Renaissance Technologies LLC raised its position in shares of ServiceNow by 59.2% in the second quarter. Renaissance Technologies LLC now owns 1,708,100 shares of the information technology services provider’s stock worth $181,059,000 after acquiring an additional 635,500 shares during the period. Finally, Westfield Capital Management Co. LP raised its position in shares of ServiceNow by 3.7% in the third quarter. Westfield Capital Management Co. LP now owns 1,085,501 shares of the information technology services provider’s stock worth $127,579,000 after acquiring an additional 38,301 shares during the period.
In related news, CRO David Schneider sold 16,349 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $124.21, for a total transaction of $2,030,709.29. Following the completion of the sale, the executive now owns 67,185 shares of the company’s stock, valued at approximately $8,345,048.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $125.96, for a total transaction of $18,894,000.00. Following the sale, the director now directly owns 216,535 shares of the company’s stock, valued at approximately $27,274,748.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 630,174 shares of company stock valued at $80,823,650. 3.30% of the stock is owned by corporate insiders.
A number of brokerages have weighed in on NOW. Robert W. Baird set a $120.00 price objective on shares of ServiceNow and gave the stock a “buy” rating in a research report on Friday, October 6th. Stifel Nicolaus upped their price objective on shares of ServiceNow from $110.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. BMO Capital Markets reiterated a “buy” rating and issued a $127.00 price objective on shares of ServiceNow in a research report on Friday, October 13th. OTR Global upgraded shares of ServiceNow to a “positive” rating in a research report on Wednesday, October 18th. Finally, Deutsche Bank upped their price objective on shares of ServiceNow from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. ServiceNow has a consensus rating of “Buy” and a consensus target price of $133.73.
Shares of ServiceNow Inc (NYSE:NOW) opened at $142.27 on Friday. ServiceNow Inc has a one year low of $82.14 and a one year high of $142.52. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.10.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The company had revenue of $498.20 million during the quarter, compared to analysts’ expectations of $491.62 million. During the same quarter in the prior year, the company earned $0.23 EPS. ServiceNow’s revenue was up 39.3% compared to the same quarter last year. analysts expect that ServiceNow Inc will post -0.35 earnings per share for the current fiscal year.
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ServiceNow Company Profile
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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