LS Investment Advisors LLC continued to hold its position in ServiceNow Inc. (NYSE:NOW) during the second quarter, Holdings Channel reports. The institutional investor owned 2,227 shares of the company’s stock at the end of the second quarter. LS Investment Advisors LLC’s holdings in ServiceNow were worth $148,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in NOW. Norges Bank bought a new position in ServiceNow during the fourth quarter worth about $33,008,000. Aperio Group LLC increased its position in ServiceNow by 16.3% in the first quarter. Aperio Group LLC now owns 23,072 shares of the company’s stock worth $1,412,000 after buying an additional 3,237 shares during the last quarter. Ngam Advisors L.P. increased its position in ServiceNow by 10.2% in the first quarter. Ngam Advisors L.P. now owns 14,129 shares of the company’s stock worth $864,000 after buying an additional 1,306 shares during the last quarter. BlackRock Inc. increased its position in ServiceNow by 8.5% in the first quarter. BlackRock Inc. now owns 122,189 shares of the company’s stock worth $7,475,000 after buying an additional 9,526 shares during the last quarter. Finally, BlackRock Group LTD increased its position in ServiceNow by 0.5% in the first quarter. BlackRock Group LTD now owns 922,881 shares of the company’s stock worth $56,461,000 after buying an additional 4,842 shares during the last quarter. 95.72% of the stock is owned by institutional investors.
Shares of ServiceNow Inc. (NYSE:NOW) traded up 0.85% during mid-day trading on Friday, reaching $79.15. 1,568,362 shares of the company’s stock traded hands. ServiceNow Inc. has a 12-month low of $46.00 and a 12-month high of $91.28. The company’s market cap is $13.02 billion. The company’s 50 day moving average is $75.28 and its 200 day moving average is $70.72.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.05. The business earned $341.30 million during the quarter, compared to analysts’ expectations of $334.07 million. ServiceNow had a negative net margin of 38.64% and a negative return on equity of 36.56%. The business’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter last year, the company posted $0.05 earnings per share. On average, analysts predict that ServiceNow Inc. will post $0.66 EPS for the current fiscal year.
A number of equities analysts recently issued reports on NOW shares. BTIG Research reissued a “buy” rating and issued a $85.00 price target on shares of ServiceNow in a research note on Monday, June 6th. Vetr downgraded shares of ServiceNow from a “strong-buy” rating to a “buy” rating and set a $83.80 target price for the company. in a research note on Monday, June 6th. Oppenheimer Holdings Inc. assumed coverage on shares of ServiceNow in a research note on Thursday, June 16th. They set a “market perform” rating for the company. Cowen and Company assumed coverage on shares of ServiceNow in a research note on Friday, June 24th. They set an “outperform” rating and a $95.00 target price for the company. Finally, OTR Global raised shares of ServiceNow to a “positive” rating in a research note on Wednesday, July 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. ServiceNow presently 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 stock in a transaction on Monday, August 1st. The shares were sold at an average price of $74.54, for a total value of $372,700.00. Following the sale, the director now owns 10,061 shares in the company, valued at $749,946.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Daniel Mcgee sold 14,191 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $80.00, for a total transaction of $1,135,280.00. Following the completion of the sale, the chief operating officer now owns 5,321 shares in the company, valued at approximately $425,680. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.
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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