Candriam Luxembourg S.C.A. raised its stake in Now Inc. (NYSE:DNOW) by 24.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,571 shares of the company’s stock after buying an additional 2,819 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Now were worth $264,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. State Street Corp raised its stake in Now by 2.4% in the first quarter. State Street Corp now owns 2,842,591 shares of the company’s stock worth $50,365,000 after buying an additional 66,585 shares during the last quarter. BB&T Securities LLC raised its stake in Now by 18.7% in the first quarter. BB&T Securities LLC now owns 15,038 shares of the company’s stock worth $266,000 after buying an additional 2,374 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Now during the first quarter worth $516,000. Canada Pension Plan Investment Board purchased a new stake in Now during the first quarter worth $9,459,000. Finally, JPMorgan Chase & Co. raised its stake in Now by 24.4% in the first quarter. JPMorgan Chase & Co. now owns 112,446 shares of the company’s stock worth $1,992,000 after buying an additional 22,026 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Now Inc. (NYSE:DNOW) traded down 2.16% during trading on Thursday, reaching $21.78. 1,125,521 shares of the company’s stock traded hands. The company has a 50 day moving average price of $20.71 and a 200 day moving average price of $18.94. Now Inc. has a 1-year low of $12.03 and a 1-year high of $22.81. The stock’s market capitalization is $2.34 billion.
Now (NYSE:DNOW) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.06. The company earned $501 million during the quarter, compared to analysts’ expectations of $456.96 million. Now had a negative return on equity of 8.92% and a negative net margin of 23.71%. The firm’s revenue was down 33.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.16) EPS. On average, equities analysts forecast that Now Inc. will post ($1.52) EPS for the current fiscal year.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Now from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. KeyCorp restated a “hold” rating on shares of Now in a research note on Tuesday, September 27th. Finally, Cowen and Company assumed coverage on shares of Now in a research note on Friday, September 16th. They set a “market perform” rating and a $22.00 target price on the stock. Five research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $18.00.
NOW Inc (NOW) is a global distributor to energy and industrial markets. The Company operates primarily under the DistributionNOW and Wilson Export brands. The Company operates through three segments: United States (U.S.), Canada and International. Through its network of over 300 locations across the world, it stocks and sells an offering of energy products, as well as a selection of products for industrial applications.
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