Engineers Gate Manager LP Sells 43,179 Shares of ServiceNow, Inc. (NOW)
Engineers Gate Manager LP lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 83.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,796 shares of the information technology services provider’s stock after selling 43,179 shares during the quarter. Engineers Gate Manager LP’s holdings in ServiceNow were worth $1,034,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth Bank of Australia grew its holdings in ServiceNow by 5.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock valued at $159,000 after buying an additional 83 shares in the last quarter. Comerica Bank lifted its stake in shares of ServiceNow by 2.6% in the 2nd quarter. Comerica Bank now owns 7,959 shares of the information technology services provider’s stock valued at $859,000 after purchasing an additional 205 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of ServiceNow by 12.3% in the 2nd quarter. Toronto Dominion Bank now owns 2,040 shares of the information technology services provider’s stock valued at $216,000 after purchasing an additional 224 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in shares of ServiceNow by 3.2% in the 2nd quarter. Chartwell Investment Partners LLC now owns 7,751 shares of the information technology services provider’s stock valued at $822,000 after purchasing an additional 240 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of ServiceNow by 14.5% in the 2nd quarter. IFP Advisors Inc now owns 2,030 shares of the information technology services provider’s stock valued at $215,000 after purchasing an additional 257 shares during the last quarter.
In related news, Director Frank Slootman sold 150,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $117.17, for a total value of $17,575,500.00. Following the completion of the transaction, the director now owns 216,535 shares of the company’s stock, valued at approximately $25,371,405.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO David Schneider sold 16,349 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $124.21, for a total value of $2,030,709.29. Following the completion of the transaction, the executive now directly owns 67,185 shares of the company’s stock, valued at approximately $8,345,048.85. The disclosure for this sale can be found here. In the last three months, insiders sold 660,174 shares of company stock valued at $80,951,050. Insiders own 3.30% of the company’s stock.
Shares of ServiceNow, Inc. (NOW) traded up $2.36 during mid-day trading on Thursday, hitting $123.37. The stock had a trading volume of 1,455,900 shares, compared to its average volume of 1,593,623. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.10. ServiceNow, Inc. has a fifty-two week low of $73.66 and a fifty-two week high of $130.05.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.06. The business had revenue of $498.20 million during the quarter, compared to analysts’ expectations of $491.62 million. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The company’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. equities research analysts expect that ServiceNow, Inc. will post -0.35 earnings per share for the current fiscal year.
Several research firms have recently issued reports on NOW. Credit Suisse Group began coverage on ServiceNow in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $135.00 price objective for the company. Robert W. Baird set a $120.00 price target on ServiceNow and gave the stock a “buy” rating in a research note on Friday, October 6th. BMO Capital Markets reissued a “buy” rating and set a $127.00 price target on shares of ServiceNow in a research note on Friday, October 13th. Stifel Nicolaus raised their price target on ServiceNow from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, OTR Global raised ServiceNow to a “positive” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-eight have given a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $132.17.
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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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