Tower Research Capital LLC TRC cut its position in shares of ServiceNow Inc (NYSE:NOW) by 23.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,707 shares of the information technology services provider’s stock after selling 1,132 shares during the period. Tower Research Capital LLC TRC’s holdings in ServiceNow were worth $1,018,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. San Francisco Sentry Investment Group CA boosted its holdings in ServiceNow by 650.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock worth $29,000 after buying an additional 91 shares in the last quarter. Motco purchased a new stake in ServiceNow during the second quarter worth $33,000. Knuff & Co LLC purchased a new stake in ServiceNow during the first quarter worth $37,000. Mizuho Securities Co. Ltd. purchased a new stake in ServiceNow during the second quarter worth $52,000. Finally, Next Capital Management LLC boosted its holdings in ServiceNow by 90.8% during the second quarter. Next Capital Management LLC now owns 229 shares of the information technology services provider’s stock worth $63,000 after buying an additional 109 shares in the last quarter. 90.83% of the stock is currently owned by hedge funds and other institutional investors.
In other ServiceNow news, CFO Michael Scarpelli sold 31,183 shares of ServiceNow stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $260.22, for a total transaction of $8,114,440.26. Following the completion of the sale, the chief financial officer now directly owns 36,200 shares in the company, valued at $9,419,964. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Schneider sold 3,414 shares of ServiceNow stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $291.33, for a total transaction of $994,600.62. Following the sale, the insider now owns 44,351 shares of the company’s stock, valued at $12,920,776.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,012 shares of company stock valued at $25,744,347. 1.00% of the stock is owned by company insiders.
Several research firms have issued reports on NOW. Needham & Company LLC increased their price objective on shares of ServiceNow from $276.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. UBS Group increased their price objective on shares of ServiceNow to $332.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada reaffirmed a “top pick” rating and set a $320.00 price objective (up from $300.00) on shares of ServiceNow in a report on Tuesday, September 3rd. Jefferies Financial Group increased their price objective on shares of ServiceNow from $285.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Robert W. Baird increased their price objective on shares of ServiceNow from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. ServiceNow currently has an average rating of “Buy” and a consensus price target of $292.34.
ServiceNow stock traded up $7.37 during midday trading on Monday, hitting $259.33. 696,823 shares of the stock were exchanged, compared to its average volume of 1,598,864. ServiceNow Inc has a fifty-two week low of $147.63 and a fifty-two week high of $303.17. The stock has a market capitalization of $48.15 billion, a price-to-earnings ratio of 1,296.65, a PEG ratio of 21.58 and a beta of 1.34. The stock’s 50-day simple moving average is $265.00 and its 200 day simple moving average is $263.31. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.54.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. ServiceNow had a net margin of 0.09% and a return on equity of 4.29%. The firm had revenue of $833.90 million during the quarter, compared to analysts’ expectations of $831.50 million. During the same period last year, the business earned $0.49 earnings per share. ServiceNow’s revenue was up 32.1% compared to the same quarter last year. Equities analysts anticipate that ServiceNow Inc will post 0.43 EPS for the current fiscal year.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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