Jennison Associates LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 7.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,087,847 shares of the information technology services provider’s stock after selling 87,908 shares during the period. Jennison Associates LLC owned 0.64% of ServiceNow worth $127,855,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. LS Investment Advisors LLC grew its holdings in ServiceNow by 3.6% during the 2nd quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock worth $184,000 after acquiring an additional 61 shares during the period. 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 worth $159,000 after acquiring an additional 83 shares during the period. Crow Point Partners LLC grew its holdings in ServiceNow by 8.8% during the 2nd quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after acquiring an additional 107 shares during the period. Comerica Bank grew its holdings in ServiceNow by 2.6% during the 2nd quarter. Comerica Bank now owns 7,959 shares of the information technology services provider’s stock worth $859,000 after acquiring an additional 205 shares during the period. Finally, Toronto Dominion Bank grew its holdings in ServiceNow by 12.3% during the 2nd quarter. Toronto Dominion Bank now owns 2,040 shares of the information technology services provider’s stock worth $216,000 after acquiring an additional 224 shares during the period.
Several equities analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of ServiceNow in a report on Tuesday, September 5th. They issued an “outperform” rating and a $135.00 price target for the company. Robert W. Baird set a $120.00 price target on shares of ServiceNow and gave the company a “buy” rating in a report on Friday, October 6th. Piper Jaffray Companies reissued a “hold” rating on shares of ServiceNow in a report on Friday, July 28th. JMP Securities reissued an “outperform” rating on shares of ServiceNow in a report on Thursday, July 27th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $127.00 price target on shares of ServiceNow in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-nine have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $130.50.
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Shares of ServiceNow, Inc. (NYSE:NOW) traded up $0.43 during mid-day trading on Friday, hitting $125.98. 958,477 shares of the stock were exchanged, compared to its average volume of 1,542,959. The company has a current ratio of 1.66, a quick ratio of 1.73 and a debt-to-equity ratio of 2.10. ServiceNow, Inc. has a 12 month low of $72.80 and a 12 month high of $129.56.
ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.06. The company had revenue of $498.20 million for the quarter, compared to analysts’ expectations of $491.62 million. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. ServiceNow’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. equities analysts forecast that ServiceNow, Inc. will post -0.35 earnings per share for the current year.
In other news, CRO David Schneider sold 16,349 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $107.25, for a total value of $1,753,430.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Scarpelli sold 75,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.68, for a total transaction of $8,076,000.00. Following the completion of the sale, the insider now directly owns 252,368 shares in the company, valued at $27,174,986.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,038,849 shares of company stock worth $121,440,605. 3.30% of the stock is owned by insiders.
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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