Dimensional Fund Advisors LP Has $16.76 Million Holdings in ServiceNow, Inc. (NOW)
Dimensional Fund Advisors LP lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 158,144 shares of the information technology services provider’s stock after purchasing an additional 4,803 shares during the quarter. Dimensional Fund Advisors LP owned 0.09% of ServiceNow worth $16,764,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in NOW. Coatue Management LLC bought a new position in shares of ServiceNow in the second quarter worth $184,317,000. Vanguard Group Inc. grew its stake in shares of ServiceNow by 5.6% in the second quarter. Vanguard Group Inc. now owns 13,985,997 shares of the information technology services provider’s stock worth $1,482,516,000 after purchasing an additional 741,341 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of ServiceNow by 59.2% in the second quarter. Renaissance Technologies LLC now owns 1,708,100 shares of the information technology services provider’s stock worth $181,059,000 after purchasing an additional 635,500 shares in the last quarter. Allen Investment Management LLC bought a new position in shares of ServiceNow in the second quarter worth $45,372,000. Finally, Federated Investors Inc. PA grew its stake in shares of ServiceNow by 29.4% in the second quarter. Federated Investors Inc. PA now owns 1,723,732 shares of the information technology services provider’s stock worth $182,716,000 after purchasing an additional 391,932 shares in the last quarter.
Several research firms have recently issued reports on NOW. UBS AG increased their price target on ServiceNow from $128.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday. JMP Securities reissued an “outperform” rating on shares of ServiceNow in a research note on Thursday, July 27th. Raymond James Financial, Inc. increased their price target on ServiceNow from $110.00 to $126.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 27th. BMO Capital Markets increased their price target on ServiceNow from $110.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $130.00 price target (up previously from $110.00) on shares of ServiceNow in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-nine have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $130.50.
Shares of ServiceNow, Inc. (NOW) opened at $125.98 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.66 and a debt-to-equity ratio of 2.10. ServiceNow, Inc. has a one year low of $72.80 and a one year high of $129.56.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06. The firm had revenue of $498.20 million during the quarter, compared to the consensus estimate of $491.62 million. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. equities analysts predict that ServiceNow, Inc. will post -0.35 EPS for the current fiscal year.
In other news, CRO David Schneider sold 16,349 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $107.25, for a total transaction of $1,753,430.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Scarpelli sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total value of $8,076,000.00. Following the sale, the insider now directly owns 252,368 shares of the company’s stock, valued at $27,174,986.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,038,849 shares of company stock valued at $121,440,605. Company insiders own 3.30% of the company’s stock.
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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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