ServiceNow, Inc. (NOW) Shares Sold by Inverness Counsel LLC NY
Inverness Counsel LLC NY lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,630 shares of the information technology services provider’s stock after selling 9,609 shares during the quarter. Inverness Counsel LLC NY owned about 0.06% of ServiceNow worth $12,767,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of NOW. Capital World Investors acquired a new stake in ServiceNow in the second quarter worth about $259,594,000. Coatue Management LLC acquired a new stake in ServiceNow in the second quarter worth about $184,317,000. Capital Research Global Investors acquired a new stake in ServiceNow in the second quarter worth about $93,763,000. Vanguard Group Inc. lifted its holdings in ServiceNow by 5.6% in the second quarter. Vanguard Group Inc. now owns 13,985,997 shares of the information technology services provider’s stock worth $1,482,516,000 after purchasing an additional 741,341 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in ServiceNow by 59.2% in the second quarter. Renaissance Technologies LLC now owns 1,708,100 shares of the information technology services provider’s stock worth $181,059,000 after purchasing an additional 635,500 shares during the period. 99.88% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on NOW shares. Moffett Nathanson started coverage on shares of ServiceNow in a report on Wednesday, September 6th. They issued a “buy” rating for the company. BidaskClub downgraded shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Robert W. Baird reaffirmed a “buy” rating and issued a $120.00 price objective on shares of ServiceNow in a report on Friday, September 1st. Summit Redstone reaffirmed a “buy” rating and issued a $135.00 price objective on shares of ServiceNow in a report on Monday, September 18th. Finally, Deutsche Bank AG upped their price objective on shares of ServiceNow from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Seven investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $120.35.
Shares of ServiceNow, Inc. (NOW) traded down 1.005% during trading on Monday, reaching $123.565. The company’s stock had a trading volume of 650,647 shares. The stock’s 50 day moving average price is $117.91 and its 200 day moving average price is $106.47. ServiceNow, Inc. has a 52 week low of $72.80 and a 52 week high of $129.56. The company’s market cap is $21.09 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $471.70 million for the quarter, compared to analyst estimates of $462.11 million. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. Equities research analysts predict that ServiceNow, Inc. will post $1.17 EPS for the current year.
In other ServiceNow news, Director Frederic B. Luddy sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $120.51, for a total transaction of $12,051,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO David Schneider sold 16,349 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $107.25, for a total value of $1,753,430.25. The disclosure for this sale can be found here. Insiders have sold a total of 1,172,353 shares of company stock worth $133,460,161 in the last ninety days. Insiders own 3.30% of the company’s stock.
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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