Bank of Montreal Can acquired a new position in ServiceNow Inc. (NYSE:NOW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 92,462 shares of the company’s stock, valued at approximately $6,138,000.
A number of other hedge funds also recently bought and sold shares of NOW. Quadrature Capital Ltd bought a new stake in ServiceNow during the first quarter worth $214,000. Capstone Asset Management Co. bought a new stake in ServiceNow during the second quarter worth $231,000. Dodge & Cox bought a new stake in ServiceNow during the first quarter worth $399,000. BB&T Securities LLC bought a new stake in ServiceNow during the first quarter worth $550,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in ServiceNow by 127.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,924 shares of the company’s stock worth $668,000 after buying an additional 6,130 shares during the last quarter. 95.72% of the stock is owned by institutional investors.
Shares of ServiceNow Inc. (NYSE:NOW) traded up 1.92% during midday trading on Monday, hitting $80.03. The stock had a trading volume of 1,057,114 shares. The firm’s market cap is $13.16 billion. ServiceNow Inc. has a 12-month low of $46.00 and a 12-month high of $91.28. The company’s 50-day moving average price is $75.91 and its 200-day moving average price is $71.36.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. ServiceNow had a negative return on equity of 36.56% and a negative net margin of 38.64%. The business earned $341.30 million during the quarter, compared to analyst estimates of $334.07 million. During the same period in the prior year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. Equities research analysts forecast that ServiceNow Inc. will post $0.66 EPS for the current year.
A number of analysts have weighed in on the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $90.00 price objective on shares of ServiceNow in a research report on Thursday, July 28th. Zacks Investment Research raised ServiceNow from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Wednesday, August 3rd. OTR Global raised ServiceNow to a “positive” rating in a research report on Wednesday, July 13th. Citigroup Inc. increased their price objective on ServiceNow from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Finally, MKM Partners increased their price objective on ServiceNow from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $84.47.
In other ServiceNow news, CEO Frank Slootman sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $75.01, for a total value of $11,251,500.00. Following the completion of the sale, the chief executive officer now directly owns 281,269 shares in the company, valued at $21,097,987.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO David Schneider sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $79.01, for a total value of $355,545.00. Following the completion of the sale, the executive now owns 29,694 shares of the company’s stock, valued at $2,346,122.94. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.
ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
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