ServiceNow (NOW) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC decreased its position in shares of ServiceNow (NYSE:NOW) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,632 shares of the information technology services provider’s stock after selling 4,414 shares during the period. Neuberger Berman Group LLC owned 0.13% of ServiceNow worth $38,158,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank raised its position in shares of ServiceNow by 4.6% during the fourth quarter. Comerica Bank now owns 8,813 shares of the information technology services provider’s stock valued at $1,282,000 after buying an additional 391 shares during the last quarter. Exane Derivatives raised its position in shares of ServiceNow by 90.3% during the fourth quarter. Exane Derivatives now owns 925 shares of the information technology services provider’s stock valued at $121,000 after buying an additional 439 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of ServiceNow by 15.5% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,429 shares of the information technology services provider’s stock valued at $447,000 after buying an additional 461 shares during the last quarter. Pier 88 Investment Partners LLC raised its position in shares of ServiceNow by 14.9% during the fourth quarter. Pier 88 Investment Partners LLC now owns 3,733 shares of the information technology services provider’s stock valued at $487,000 after buying an additional 485 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of ServiceNow by 3.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,528 shares of the information technology services provider’s stock valued at $2,546,000 after buying an additional 590 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Chirantan Jitendra Desai sold 2,836 shares of the stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $171.76, for a total transaction of $487,111.36. Following the sale, the insider now directly owns 9,878 shares of the company’s stock, valued at $1,696,645.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Scarpelli sold 18,038 shares of the stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $177.98, for a total transaction of $3,210,403.24. Following the sale, the chief financial officer now directly owns 125,973 shares in the company, valued at $22,420,674.54. The disclosure for this sale can be found here. Insiders have sold 540,215 shares of company stock worth $90,085,435 over the last ninety days. Insiders own 1.60% of the company’s stock.

Shares of ServiceNow opened at $173.96 on Thursday, MarketBeat Ratings reports. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.74. The stock has a market cap of $30.08 billion, a price-to-earnings ratio of -165.68, a PEG ratio of 29.33 and a beta of 1.07. ServiceNow has a 1-year low of $99.01 and a 1-year high of $182.59.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 25th. The information technology services provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.19. The firm had revenue of $589.20 million for the quarter, compared to analysts’ expectations of $570.63 million. ServiceNow had a negative net margin of 4.65% and a negative return on equity of 10.63%. The company’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. equities analysts anticipate that ServiceNow will post 0.13 EPS for the current year.

A number of research analysts have recently commented on the stock. Canaccord Genuity upped their price objective on shares of ServiceNow from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 9th. Raymond James upped their price objective on shares of ServiceNow from $190.00 to $202.00 and gave the company a “strong-buy” rating in a research report on Tuesday, May 8th. UBS set a $196.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research note on Tuesday, May 8th. ValuEngine raised shares of ServiceNow from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Thursday, April 26th. Five analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $169.07.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply