Candriam Luxembourg S.C.A. bought a new position in shares of ServiceNow Inc. (NYSE:NOW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,288 shares of the company’s stock, valued at approximately $418,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capstone Asset Management Co. bought a new position in ServiceNow during the second quarter worth approximately $231,000. Quadrature Capital Ltd bought a new position in ServiceNow during the first quarter worth approximately $214,000. Dodge & Cox bought a new position in ServiceNow during the first quarter worth approximately $399,000. BB&T Securities LLC bought a new position in ServiceNow during the first quarter worth approximately $550,000. Finally, Shell Asset Management Co. boosted its position in ServiceNow by 36.3% in the second quarter. Shell Asset Management Co. now owns 10,391 shares of the company’s stock worth $690,000 after buying an additional 2,765 shares during the last quarter. 95.72% of the stock is currently owned by institutional investors.
Shares of ServiceNow Inc. (NYSE:NOW) traded down 4.48% on Wednesday, hitting $75.27. The stock had a trading volume of 3,201,978 shares. ServiceNow Inc. has a 12-month low of $46.00 and a 12-month high of $91.28. The firm’s market cap is $12.38 billion. The company’s 50-day moving average price is $76.31 and its 200 day moving average price is $71.67.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.05. The business earned $341.30 million during the quarter, compared to analyst estimates of $334.07 million. ServiceNow had a negative return on equity of 36.56% and a negative net margin of 38.64%. The company’s revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, equities research analysts forecast that ServiceNow Inc. will post $0.66 earnings per share for the current fiscal year.
A number of brokerages have issued reports on NOW. OTR Global lowered shares of ServiceNow to a “positive” rating in a research note on Wednesday. Piper Jaffray Cos. reiterated an “overweight” rating and set a $90.00 price target on shares of ServiceNow in a research note on Thursday, July 28th. BMO Capital Markets began coverage on shares of ServiceNow in a research note on Monday, September 19th. They set a “market perform” rating and a $85.00 price target on the stock. Cowen and Company began coverage on shares of ServiceNow in a research note on Friday, June 24th. They set an “outperform” rating and a $95.00 price target on the stock. Finally, Zacks Investment Research lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $84.47.
In other news, Director William L. Strauss sold 5,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $74.54, for a total transaction of $372,700.00. Following the sale, the director now directly owns 10,061 shares of the company’s stock, valued at $749,946.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frederic B. Luddy sold 150,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $71.20, for a total value of $10,680,000.00. Following the sale, the insider now directly owns 155,249 shares in the company, valued at $11,053,728.80. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.
ServiceNow Company Profile
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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