Gateway Investment Advisers LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,970 shares of the information technology services provider’s stock after selling 1,256 shares during the period. Gateway Investment Advisers LLC’s holdings in ServiceNow were worth $8,901,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Global X Management Co. LLC increased its position in ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock worth $123,000 after buying an additional 330 shares during the period. Hartford Financial Management Inc. purchased a new position in ServiceNow during the first quarter worth $125,000. TLP Group LLC purchased a new position in ServiceNow during the first quarter worth $131,000. First Personal Financial Services increased its position in ServiceNow by 37.5% in the first quarter. First Personal Financial Services now owns 1,623 shares of the information technology services provider’s stock worth $142,000 after buying an additional 443 shares during the period. Finally, IFP Advisors Inc increased its position in ServiceNow by 357.0% in the first quarter. IFP Advisors Inc now owns 1,773 shares of the information technology services provider’s stock worth $155,000 after buying an additional 1,385 shares during the period. Hedge funds and other institutional investors own 97.60% of the company’s stock.
ServiceNow, Inc. (NYSE NOW) opened at 111.23 on Friday. The company’s market cap is $18.88 billion. The company has a 50 day moving average of $103.78 and a 200-day moving average of $90.97. ServiceNow, Inc. has a one year low of $65.41 and a one year high of $112.97.
ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by $0.02. The firm had revenue of $416.80 million during the quarter, compared to analyst estimates of $409.26 million. ServiceNow had a negative net margin of 10.60% and a negative return on equity of 31.34%. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post $1.17 earnings per share for the current fiscal year.
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NOW has been the topic of a number of analyst reports. Zacks Investment Research raised ServiceNow from a “sell” rating to a “hold” rating in a research report on Tuesday. Stephens initiated coverage on ServiceNow in a research report on Thursday, May 25th. They issued an “overweight” rating and a $120.00 price target on the stock. BidaskClub raised ServiceNow from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. ValuEngine raised ServiceNow from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, J P Morgan Chase & Co initiated coverage on ServiceNow in a research report on Friday, June 23rd. They issued an “overweight” rating and a $125.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $105.25.
In other news, Director Frederic B. Luddy sold 102,000 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $94.96, for a total value of $9,685,920.00. Following the transaction, the director now directly owns 6,232 shares in the company, valued at approximately $591,790.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John J. Donahoe acquired 5,618 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was bought at an average price of $97.93 per share, for a total transaction of $550,170.74. Following the completion of the acquisition, the chief executive officer now owns 5,618 shares in the company, valued at approximately $550,170.74. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 427,673 shares of company stock worth $44,249,646. Company insiders own 3.30% of the company’s stock.
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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