Conning Inc. Purchases 724 Shares of ServiceNow Inc (NYSE:NOW)

Conning Inc. grew its position in shares of ServiceNow Inc (NYSE:NOW) by 95.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,484 shares of the information technology services provider’s stock after buying an additional 724 shares during the quarter. Conning Inc.’s holdings in ServiceNow were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Mid Atlantic Financial Management Inc. ADV bought a new position in shares of ServiceNow during the 4th quarter worth approximately $241,000. Amalgamated Bank lifted its position in shares of ServiceNow by 14.0% during the 4th quarter. Amalgamated Bank now owns 32,148 shares of the information technology services provider’s stock worth $9,076,000 after buying an additional 3,957 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of ServiceNow by 0.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 34,088 shares of the information technology services provider’s stock worth $9,624,000 after buying an additional 123 shares in the last quarter. MAI Capital Management increased its stake in shares of ServiceNow by 53.6% during the 4th quarter. MAI Capital Management now owns 6,547 shares of the information technology services provider’s stock worth $1,848,000 after purchasing an additional 2,284 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of ServiceNow by 49.7% during the 4th quarter. AQR Capital Management LLC now owns 90,170 shares of the information technology services provider’s stock worth $25,457,000 after purchasing an additional 29,946 shares during the last quarter. 97.20% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Frederic B. Luddy sold 26,000 shares of ServiceNow stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $273.56, for a total transaction of $7,112,560.00. Following the completion of the sale, the director now directly owns 1,213 shares of the company’s stock, valued at approximately $331,828.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederic B. Luddy sold 40,613 shares of ServiceNow stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $343.87, for a total transaction of $13,965,592.31. Following the sale, the director now directly owns 1,213 shares of the company’s stock, valued at $417,114.31. The disclosure for this sale can be found here. Insiders have sold a total of 111,169 shares of company stock valued at $35,315,020 over the last ninety days. 1.00% of the stock is currently owned by insiders.

NOW opened at $339.51 on Friday. The company has a fifty day moving average price of $283.08 and a 200-day moving average price of $290.14. The firm has a market capitalization of $67.04 billion, a P/E ratio of 99.27, a price-to-earnings-growth ratio of 14.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. ServiceNow Inc has a one year low of $213.99 and a one year high of $362.95.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 29th. The information technology services provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. ServiceNow had a net margin of 18.19% and a return on equity of 10.44%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business earned $0.67 EPS. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, analysts expect that ServiceNow Inc will post 0.82 earnings per share for the current year.

Several brokerages have recently issued reports on NOW. Cowen raised their price target on shares of ServiceNow from $345.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday. Stifel Nicolaus raised their price target on shares of ServiceNow from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird lowered shares of ServiceNow from an “outperform” rating to a “neutral” rating and set a $300.00 price target for the company. in a research note on Thursday, April 2nd. TheStreet lowered shares of ServiceNow from a “b” rating to a “c+” rating in a research note on Wednesday. Finally, JMP Securities lifted their price objective on shares of ServiceNow from $309.00 to $350.00 and gave the company a “market outperform” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $361.56.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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