Fisher Asset Management LLC bought a new position in shares of ServiceNow Inc (NYSE:NOW) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 1,074 shares of the information technology services provider’s stock, valued at approximately $210,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its stake in ServiceNow by 44.3% during the second quarter. Janus Henderson Group PLC now owns 1,652,619 shares of the information technology services provider’s stock worth $285,058,000 after purchasing an additional 507,435 shares during the period. Northern Trust Corp boosted its holdings in ServiceNow by 1.0% in the second quarter. Northern Trust Corp now owns 990,521 shares of the information technology services provider’s stock worth $170,835,000 after acquiring an additional 9,950 shares in the last quarter. Bessemer Group Inc. boosted its holdings in ServiceNow by 49.5% in the second quarter. Bessemer Group Inc. now owns 827,954 shares of the information technology services provider’s stock worth $142,796,000 after acquiring an additional 274,242 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in ServiceNow by 10.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 626,588 shares of the information technology services provider’s stock worth $108,068,000 after acquiring an additional 58,968 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in ServiceNow by 3,565.4% in the second quarter. Advisors Asset Management Inc. now owns 599,661 shares of the information technology services provider’s stock worth $3,051,000 after acquiring an additional 583,301 shares in the last quarter. 95.25% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on the company. Royal Bank of Canada reiterated a “buy” rating and issued a $205.00 price target on shares of ServiceNow in a report on Thursday, July 26th. KeyCorp increased their price target on ServiceNow from $194.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. JPMorgan Chase & Co. increased their price target on ServiceNow from $163.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, July 26th. Stifel Nicolaus increased their price target on ServiceNow from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. Finally, Credit Suisse Group increased their price target on ServiceNow from $180.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $203.44.
In related news, Director Ronald E. F. Codd sold 39,506 shares of ServiceNow stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $185.88, for a total transaction of $7,343,375.28. Following the sale, the director now directly owns 53,428 shares in the company, valued at $9,931,196.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chirantan Jitendra Desai sold 2,031 shares of ServiceNow stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $199.84, for a total value of $405,875.04. Following the sale, the insider now owns 7,174 shares in the company, valued at $1,433,652.16. The disclosure for this sale can be found here. Insiders sold 190,350 shares of company stock worth $35,102,979 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.
NOW stock opened at $180.41 on Tuesday. ServiceNow Inc has a twelve month low of $112.84 and a twelve month high of $206.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $31.81 billion, a PE ratio of -171.82, a P/E/G ratio of 33.17 and a beta of 1.25.
ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 24th. The information technology services provider reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.61. ServiceNow had a negative return on equity of 3.15% and a negative net margin of 2.52%. The company had revenue of $673.10 million for the quarter, compared to analyst estimates of $659.41 million. Equities research analysts anticipate that ServiceNow Inc will post 0.16 EPS for the current fiscal year.
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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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