Great West Life Assurance Co. Can Purchases 9,632 Shares of ServiceNow, Inc. (NYSE:NOW)
Great West Life Assurance Co. Can boosted its position in ServiceNow, Inc. (NYSE:NOW) by 11.4% during the second quarter, Holdings Channel reports. The institutional investor owned 94,160 shares of the information technology services provider’s stock after buying an additional 9,632 shares during the period. Great West Life Assurance Co. Can’s holdings in ServiceNow were worth $9,963,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. increased its stake in ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after buying an additional 245 shares in the last quarter. Global X Management Co. LLC increased its stake in ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock worth $123,000 after buying an additional 330 shares in the last quarter. Hartford Financial Management Inc. purchased a new stake in ServiceNow during the first quarter worth about $125,000. TLP Group LLC purchased a new stake in ServiceNow during the first quarter worth about $131,000. Finally, Crow Point Partners LLC increased its stake in ServiceNow by 8.8% in the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after buying an additional 107 shares in the last quarter. 97.53% of the stock is owned by institutional investors and hedge funds.
ServiceNow, Inc. (NYSE:NOW) opened at 104.42 on Friday. The stock’s market capitalization is $17.80 billion. The company’s 50-day moving average price is $108.32 and its 200 day moving average price is $96.87. ServiceNow, Inc. has a 52-week low of $71.25 and a 52-week high of $115.85.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business had revenue of $471.70 million during the quarter, compared to analyst estimates of $462.11 million. During the same quarter in the prior year, the business posted $0.15 EPS. ServiceNow’s revenue for the quarter was up 38.2% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.
A number of analysts have issued reports on the company. Royal Bank Of Canada raised their target price on ServiceNow from $108.00 to $110.00 and gave the stock a “top pick” rating in a research report on Thursday, April 27th. Piper Jaffray Companies reissued a “hold” rating on shares of ServiceNow in a research report on Friday, July 28th. JMP Securities reissued an “outperform” rating on shares of ServiceNow in a research report on Thursday, July 27th. Morgan Stanley raised their target price on ServiceNow from $108.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Finally, BidaskClub downgraded ServiceNow from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $115.96.
In other news, Director Frank Slootman sold 31,293 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $107.84, for a total transaction of $3,374,637.12. Following the completion of the transaction, the director now owns 36,664 shares in the company, valued at $3,953,845.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO David Schneider sold 6,430 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $99.50, for a total value of $639,785.00. Following the transaction, the executive now owns 33,466 shares of the company’s stock, valued at approximately $3,329,867. The disclosure for this sale can be found here. Insiders sold a total of 763,177 shares of company stock valued at $82,424,382 in the last quarter. 3.30% of the stock is currently owned by company insiders.
ServiceNow Company Profile
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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