Arizona State Retirement System Grows Stake in ServiceNow Inc (NOW)
Arizona State Retirement System grew its position in ServiceNow Inc (NYSE:NOW) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,388 shares of the information technology services provider’s stock after acquiring an additional 5,521 shares during the quarter. Arizona State Retirement System’s holdings in ServiceNow were worth $6,831,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its position in ServiceNow by 6.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 305,581 shares of the information technology services provider’s stock worth $35,915,000 after buying an additional 18,537 shares in the last quarter. Investec Asset Management LTD lifted its position in ServiceNow by 42.9% during the third quarter. Investec Asset Management LTD now owns 66,635 shares of the information technology services provider’s stock worth $7,832,000 after buying an additional 20,014 shares in the last quarter. Jasper Ridge Partners L.P. purchased a new position in ServiceNow during the third quarter worth approximately $1,525,000. Rockefeller Financial Services Inc. purchased a new position in ServiceNow during the third quarter worth approximately $138,000. Finally, British Airways Pensions Investment Management Ltd lifted its position in ServiceNow by 84.5% during the third quarter. British Airways Pensions Investment Management Ltd now owns 218,243 shares of the information technology services provider’s stock worth $25,643,000 after buying an additional 99,938 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.
In other news, Director Anita M. Sands sold 1,636 shares of ServiceNow stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $150.51, for a total value of $246,234.36. Following the completion of the sale, the director now directly owns 12,704 shares of the company’s stock, valued at $1,912,079.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederic B. Luddy sold 170,000 shares of ServiceNow stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $129.43, for a total value of $22,003,100.00. The disclosure for this sale can be found here. Insiders sold 585,409 shares of company stock valued at $80,159,745 over the last ninety days. Insiders own 3.30% of the company’s stock.
Shares of ServiceNow Inc (NYSE NOW) opened at $157.58 on Thursday. ServiceNow Inc has a one year low of $83.42 and a one year high of $160.73. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $27,210.00, a price-to-earnings ratio of -181.13, a PEG ratio of 35.05 and a beta of 1.26.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 31st. The information technology services provider reported $0.35 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.35. ServiceNow had a negative return on equity of 24.97% and a negative net margin of 7.71%. The business had revenue of $546.37 million during the quarter, compared to analysts’ expectations of $532.74 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was up 41.7% on a year-over-year basis. sell-side analysts predict that ServiceNow Inc will post 0.1 EPS for the current fiscal year.
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ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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