Advisory Research Inc. Sells 15,428 Shares of ServiceNow Inc (NOW)

Advisory Research Inc. decreased its holdings in ServiceNow Inc (NYSE:NOW) by 54.8% in the fourth quarter, Holdings Channel reports. The fund owned 12,736 shares of the information technology services provider’s stock after selling 15,428 shares during the period. Advisory Research Inc.’s holdings in ServiceNow were worth $1,661,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Exane Derivatives raised its holdings in ServiceNow by 90.3% in the 4th quarter. Exane Derivatives now owns 925 shares of the information technology services provider’s stock valued at $121,000 after acquiring an additional 439 shares during the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in ServiceNow in the 3rd quarter valued at about $118,000. Cerebellum GP LLC acquired a new stake in ServiceNow in the 4th quarter valued at about $131,000. Roble Belko & Company Inc raised its holdings in ServiceNow by 5,263.2% in the 4th quarter. Roble Belko & Company Inc now owns 1,019 shares of the information technology services provider’s stock valued at $133,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Rockefeller Financial Services Inc. acquired a new stake in ServiceNow in the 3rd quarter valued at about $138,000.

ServiceNow Inc (NYSE NOW) opened at $154.03 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.66. ServiceNow Inc has a 1 year low of $83.42 and a 1 year high of $157.00. The company has a market cap of $26,600.00, a P/E ratio of -177.05, a price-to-earnings-growth ratio of 32.44 and a beta of 1.26.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. ServiceNow had a negative net margin of 7.71% and a negative return on equity of 24.97%. The company had revenue of $546.37 million during the quarter, compared to analysts’ expectations of $532.74 million. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue was up 41.7% compared to the same quarter last year. equities research analysts forecast that ServiceNow Inc will post 0.1 earnings per share for the current fiscal year.

In other ServiceNow news, Director Frederic B. Luddy sold 170,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $129.43, for a total value of $22,003,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Scarpelli sold 95,035 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $126.52, for a total transaction of $12,023,828.20. Following the completion of the transaction, the insider now directly owns 194,664 shares of the company’s stock, valued at approximately $24,628,889.28. The disclosure for this sale can be found here. Insiders sold a total of 545,302 shares of company stock valued at $73,917,711 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

NOW has been the subject of a number of recent research reports. Piper Jaffray Companies upgraded shares of ServiceNow from a “neutral” rating to an “overweight” rating in a report on Monday, October 23rd. Bank of America raised their price target on shares of ServiceNow from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Mizuho restated a “buy” rating and set a $140.00 price target on shares of ServiceNow in a report on Wednesday, October 25th. Stifel Nicolaus raised their price target on shares of ServiceNow from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, KeyCorp restated an “overweight” rating and set a $150.00 price target (up previously from $125.00) on shares of ServiceNow in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $148.97.

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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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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