Emerald Advisers Inc. PA Sells 3,835 Shares of ServiceNow Inc (NOW)
Emerald Advisers Inc. PA decreased its position in shares of ServiceNow Inc (NYSE:NOW) by 17.8% during the 4th quarter, HoldingsChannel reports. The fund owned 17,728 shares of the information technology services provider’s stock after selling 3,835 shares during the period. Emerald Advisers Inc. PA’s holdings in ServiceNow were worth $2,312,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SeaBridge Investment Advisors LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $118,000. Exane Derivatives boosted its position in shares of ServiceNow by 90.3% during the 4th quarter. Exane Derivatives now owns 925 shares of the information technology services provider’s stock worth $121,000 after acquiring an additional 439 shares in the last quarter. Cerebellum GP LLC acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $131,000. Roble Belko & Company Inc boosted its position in shares of ServiceNow by 5,263.2% during the 4th quarter. Roble Belko & Company Inc now owns 1,019 shares of the information technology services provider’s stock worth $133,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Rockefeller Financial Services Inc. acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $138,000.
In related news, CRO David Schneider sold 16,349 shares of ServiceNow stock in a transaction on Monday, November 13th. The shares were sold at an average price of $124.21, for a total transaction of $2,030,709.29. Following the completion of the transaction, the executive now owns 67,185 shares of the company’s stock, valued at $8,345,048.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Scarpelli sold 95,035 shares of ServiceNow stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $126.52, for a total transaction of $12,023,828.20. Following the transaction, the insider now directly owns 194,664 shares of the company’s stock, valued at approximately $24,628,889.28. The disclosure for this sale can be found here. Insiders have sold 481,810 shares of company stock valued at $62,175,884 in the last three months. 3.30% of the stock is owned by insiders.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. ServiceNow had a negative net margin of 7.71% and a negative return on equity of 24.97%. The business had revenue of $546.37 million during the quarter, compared to the consensus estimate of $532.74 million. During the same quarter last year, the firm earned $0.25 earnings per share. ServiceNow’s quarterly revenue was up 41.7% on a year-over-year basis. sell-side analysts forecast that ServiceNow Inc will post 0.1 earnings per share for the current fiscal year.
NOW has been the topic of several analyst reports. Mizuho reiterated a “buy” rating on shares of ServiceNow in a research report on Monday, October 16th. JPMorgan Chase & Co. lowered shares of ServiceNow from an “overweight” rating to a “neutral” rating and set a $138.00 price target on the stock. in a research report on Tuesday, December 12th. Canaccord Genuity reiterated a “buy” rating and set a $150.00 price target (up previously from $130.00) on shares of ServiceNow in a research report on Thursday, October 26th. BMO Capital Markets increased their price target on shares of ServiceNow from $133.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Cowen reiterated a “buy” rating and set a $160.00 price target on shares of ServiceNow in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $148.28.
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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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