Dynamic Technology Lab Private Ltd Invests $1.43 Million in ServiceNow Inc (NOW) Stock

Dynamic Technology Lab Private Ltd acquired a new stake in ServiceNow Inc (NYSE:NOW) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,640 shares of the information technology services provider’s stock, valued at approximately $1,429,000.

A number of other large investors have also recently bought and sold shares of the business. Mn Services Vermogensbeheer B.V. increased its stake in shares of ServiceNow by 2.6% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 27,151 shares of the information technology services provider’s stock worth $4,492,000 after purchasing an additional 700 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of ServiceNow by 64.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 291,672 shares of the information technology services provider’s stock worth $38,030,000 after purchasing an additional 114,232 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $280,000. Columbus Hill Capital Management L.P. increased its stake in shares of ServiceNow by 19.2% during the 4th quarter. Columbus Hill Capital Management L.P. now owns 354,513 shares of the information technology services provider’s stock worth $46,225,000 after purchasing an additional 57,000 shares during the last quarter. Finally, AMP Capital Investors Ltd increased its stake in shares of ServiceNow by 75.7% during the 4th quarter. AMP Capital Investors Ltd now owns 82,222 shares of the information technology services provider’s stock worth $10,723,000 after purchasing an additional 35,430 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Shares of ServiceNow opened at $176.70 on Friday, MarketBeat.com reports. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.74. ServiceNow Inc has a one year low of $103.00 and a one year high of $188.59. The firm has a market capitalization of $31.85 billion, a price-to-earnings ratio of -168.29, a PEG ratio of 54.03 and a beta of 1.11.

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

In other ServiceNow news, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $161.25, for a total value of $16,125,000.00. Following the completion of the transaction, the director now directly owns 195,076 shares of the company’s stock, valued at approximately $31,456,005. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO David Schneider sold 2,372 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $168.70, for a total transaction of $400,156.40. Following the completion of the transaction, the executive now directly owns 39,703 shares of the company’s stock, valued at $6,697,896.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 513,156 shares of company stock valued at $88,167,087. Insiders own 1.60% of the company’s stock.

Several equities research analysts have recently issued reports on NOW shares. KeyCorp raised their price target on shares of ServiceNow from $165.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, March 19th. They noted that the move was a valuation call. Royal Bank of Canada raised their price target on shares of ServiceNow to $180.00 and gave the stock a “top pick” rating in a research note on Monday, April 2nd. UBS Group set a $180.00 price target on shares of ServiceNow and gave the stock a “buy” rating in a research note on Thursday, March 1st. Argus raised their price target on shares of ServiceNow to $201.00 and gave the stock a “buy” rating in a research note on Tuesday, March 13th. Finally, Deutsche Bank raised their price target on shares of ServiceNow to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 31st. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $174.44.

About ServiceNow

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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