PNC Financial Services Group Inc. lowered its stake in ServiceNow Inc. (NYSE:NOW) by 32.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,267 shares of the company’s stock after selling 3,525 shares during the period. PNC Financial Services Group Inc.’s holdings in ServiceNow were worth $484,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. Canada Pension Plan Investment Board raised its position in shares of ServiceNow by 8,434.4% in the first quarter. Canada Pension Plan Investment Board now owns 35,930 shares of the company’s stock valued at $2,198,000 after buying an additional 35,509 shares during the last quarter. Aviva PLC raised its position in shares of ServiceNow by 1.3% in the first quarter. Aviva PLC now owns 75,661 shares of the company’s stock valued at $4,629,000 after buying an additional 996 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of ServiceNow during the first quarter valued at $1,667,000. BlackRock Group LTD raised its position in shares of ServiceNow by 0.5% in the first quarter. BlackRock Group LTD now owns 922,881 shares of the company’s stock valued at $56,461,000 after buying an additional 4,842 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of ServiceNow by 8.5% in the first quarter. BlackRock Inc. now owns 122,189 shares of the company’s stock valued at $7,475,000 after buying an additional 9,526 shares during the last quarter. Institutional investors and hedge funds own 95.72% of the company’s stock.
Shares of ServiceNow Inc. (NYSE:NOW) traded down 0.60% on Friday, hitting $77.45. The stock had a trading volume of 1,205,559 shares. The firm has a 50 day moving average price of $74.81 and a 200-day moving average price of $70.11. ServiceNow Inc. has a 52 week low of $46.00 and a 52 week high of $91.28. The company’s market cap is $12.74 billion.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.05. The company had revenue of $341.30 million for the quarter, compared to the consensus estimate 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 for the quarter was up 38.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. Analysts anticipate that ServiceNow Inc. will post $0.66 EPS for the current year.
Several brokerages have recently weighed in on NOW. Piper Jaffray Cos. reiterated an “overweight” rating and set a $90.00 price objective on shares of ServiceNow in a report on Thursday, July 28th. BMO Capital Markets assumed coverage on shares of ServiceNow in a research report on Monday, September 19th. They set a “market perform” rating and a $85.00 target price for the company. Cowen and Company assumed coverage on shares of ServiceNow in a research report on Friday, June 24th. They set an “outperform” rating and a $95.00 target price for the company. 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 report on Monday, June 6th. Finally, BTIG Research reissued a “buy” rating and set a $85.00 target price on shares of ServiceNow in a research report on Monday, June 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $84.47.
In other news, CRO David Schneider sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $69.26, for a total transaction of $346,300.00. Following the sale, the executive now directly owns 25,652 shares in the company, valued at $1,776,657.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frederic B. Luddy sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $71.20, for a total value of $10,680,000.00. Following the sale, the insider now owns 155,249 shares in the company, valued at $11,053,728.80. The disclosure for this sale can be found here. 5.90% of the stock is owned by company 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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