Andra AP fonden raised its stake in ServiceNow Inc (NYSE:NOW) by 12.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,000 shares of the information technology services provider’s stock after purchasing an additional 3,500 shares during the quarter. Andra AP fonden’s holdings in ServiceNow were worth $5,519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alpha Windward LLC acquired a new position in shares of ServiceNow in the 2nd quarter valued at $102,000. Three Peaks Capital Management LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at $113,000. IHT Wealth Management LLC boosted its holdings in shares of ServiceNow by 66.7% in the 1st quarter. IHT Wealth Management LLC now owns 750 shares of the information technology services provider’s stock valued at $121,000 after purchasing an additional 300 shares during the last quarter. Adviser Investments LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at $166,000. Finally, Chevy Chase Trust Holdings Inc. acquired a new position in shares of ServiceNow in the 2nd quarter valued at $204,000. Institutional investors own 95.79% of the company’s stock.

In related news, insider Chirantan Jitendra Desai sold 2,031 shares of ServiceNow stock in a transaction on Thursday, July 12th. The shares were sold at an average price of $188.83, for a total transaction of $383,513.73. Following the sale, the insider now owns 2,534 shares of the company’s stock, valued at approximately $478,495.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald E. F. Codd sold 39,506 shares of ServiceNow stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $185.88, for a total transaction of $7,343,375.28. Following the sale, the director now directly owns 53,428 shares in the company, valued at approximately $9,931,196.64. The disclosure for this sale can be found here. Insiders have sold a total of 190,350 shares of company stock worth $35,612,720 in the last ninety days. 1.60% of the stock is currently owned by insiders.

A number of equities analysts have recently commented on the stock. Credit Suisse Group raised their target price on shares of ServiceNow from $180.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. JMP Securities raised their target price on shares of ServiceNow to $220.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Morgan Stanley raised their target price on shares of ServiceNow from $172.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Barclays raised their target price on shares of ServiceNow from $198.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $205.00 target price on shares of ServiceNow in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $200.04.

ServiceNow stock opened at $193.12 on Tuesday. ServiceNow Inc has a 12-month low of $110.17 and a 12-month high of $206.29. The firm has a market cap of $33.75 billion, a P/E ratio of -177.60, a PEG ratio of 45.04 and a beta of 1.25. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. ServiceNow had a negative net margin of 4.16% and a negative return on equity of 7.48%. The firm had revenue of $631.05 million for the quarter, compared to the consensus estimate of $616.68 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 40.8% on a year-over-year basis. equities analysts expect that ServiceNow Inc will post 0.16 EPS for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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