Candriam Luxembourg S.C.A. raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,759 shares of the information technology services provider’s stock after buying an additional 538 shares during the period. Candriam Luxembourg S.C.A.’s holdings in ServiceNow were worth $1,247,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Nationwide Fund Advisors boosted its stake in shares of ServiceNow by 0.4% in the first quarter. Nationwide Fund Advisors now owns 135,711 shares of the information technology services provider’s stock worth $11,871,000 after buying an additional 500 shares during the last quarter. Nippon Life Insurance Co. acquired a new stake in shares of ServiceNow during the first quarter worth approximately $700,000. State of Alaska Department of Revenue acquired a new stake in shares of ServiceNow during the first quarter worth approximately $257,000. Hartford Financial Management Inc. acquired a new stake in shares of ServiceNow during the first quarter worth approximately $125,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of ServiceNow during the first quarter worth approximately $175,000. Institutional investors own 97.53% of the company’s stock.
ServiceNow, Inc. (NOW) opened at 106.05 on Friday. ServiceNow, Inc. has a 12-month low of $71.25 and a 12-month high of $115.85. The company’s market cap is $18.10 billion. The company’s 50 day moving average is $108.29 and its 200 day moving average is $97.03.
ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The company had revenue of $471.70 million for the quarter, compared to the consensus estimate of $462.11 million. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. ServiceNow’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Analysts forecast that ServiceNow, Inc. will post $1.17 earnings per share for the current fiscal year.
Several research firms have issued reports on NOW. OTR Global cut shares of ServiceNow to a “positive” rating in a research note on Friday, July 14th. Guggenheim reiterated a “buy” rating and issued a $120.00 target price (up from $108.00) on shares of ServiceNow in a research note on Thursday, July 27th. Barclays PLC increased their target price on shares of ServiceNow from $120.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. increased their target price on shares of ServiceNow from $110.00 to $126.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 27th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $123.00 target price (up from $110.00) on shares of ServiceNow in a research note on Thursday, July 27th. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company’s stock. ServiceNow has an average rating of “Buy” and an average target price of $115.96.
In other ServiceNow news, Director Frederic B. Luddy sold 167,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $108.34, for a total transaction of $18,092,780.00. Following the transaction, the director now owns 11,190 shares in the company, valued at $1,212,324.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 31,293 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $107.84, for a total transaction of $3,374,637.12. Following the transaction, the director now owns 36,664 shares in the company, valued at approximately $3,953,845.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 763,177 shares of company stock worth $82,424,382. 3.30% of the stock is owned by insiders.
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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