ServiceNow, Inc. (NOW) Shares Bought by Advisors Asset Management Inc.
Advisors Asset Management Inc. boosted its position in ServiceNow, Inc. (NYSE:NOW) by 131.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,150 shares of the information technology services provider’s stock after purchasing an additional 10,315 shares during the period. Advisors Asset Management Inc.’s holdings in ServiceNow were worth $2,133,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of NOW. Barrett Asset Management LLC purchased a new stake in shares of ServiceNow during the second quarter worth about $117,000. SeaBridge Investment Advisors LLC bought a new position in ServiceNow in the third quarter worth about $118,000. Rockefeller Financial Services Inc. bought a new position in ServiceNow in the third quarter worth about $138,000. Commonwealth Bank of Australia raised its stake in ServiceNow by 5.8% in the second quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock worth $159,000 after buying an additional 83 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in ServiceNow by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock worth $184,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 96.14% of the company’s stock.
In other ServiceNow news, Director Frank Slootman sold 150,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $115.38, for a total value of $17,307,000.00. Following the transaction, the director now directly owns 216,535 shares of the company’s stock, valued at approximately $24,983,808.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederic B. Luddy sold 50,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $125.34, for a total transaction of $6,267,000.00. Following the completion of the transaction, the director now directly owns 400 shares in the company, valued at $50,136. The disclosure for this sale can be found here. Insiders sold 962,639 shares of company stock valued at $114,959,897 in the last quarter. 3.30% of the stock is owned by insiders.
Shares of ServiceNow, Inc. (NYSE:NOW) traded up $0.85 on Monday, hitting $128.30. 506,100 shares of the company’s stock were exchanged, compared to its average volume of 1,577,407. ServiceNow, Inc. has a 1-year low of $72.80 and a 1-year high of $130.05. 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 (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.06. ServiceNow had a negative net margin of 4.86% and a negative return on equity of 18.77%. The business had revenue of $498.20 million during the quarter, compared to analyst estimates of $491.62 million. During the same quarter last year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 39.3% compared to the same quarter last year. equities research analysts predict that ServiceNow, Inc. will post -0.35 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the stock. Northland Securities reaffirmed a “buy” rating and set a $135.00 target price on shares of ServiceNow in a research note on Thursday, October 19th. JMP Securities raised their target price on shares of ServiceNow from $136.00 to $140.00 and gave the company a “market outperform” rating in a research note on Thursday, October 26th. Robert W. Baird set a $120.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research note on Friday, October 6th. Summit Redstone reaffirmed a “buy” rating and set a $135.00 target price on shares of ServiceNow in a research note on Monday, September 18th. Finally, OTR Global raised shares of ServiceNow to a “positive” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have assigned a buy rating and three have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $130.50.
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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