Schroder Investment Management Group lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,809 shares of the information technology services provider’s stock after selling 619 shares during the period. Schroder Investment Management Group’s holdings in ServiceNow were worth $3,789,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Polaris Greystone Financial Group LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at about $1,236,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of ServiceNow in the 2nd quarter valued at about $6,862,000. Delta Lloyd Asset Management N.V. purchased a new stake in shares of ServiceNow in the 2nd quarter valued at about $2,645,000. Swiss National Bank raised its holdings in shares of ServiceNow by 3.1% in the 2nd quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock valued at $64,300,000 after acquiring an additional 18,200 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of ServiceNow by 33.2% in the 2nd quarter. Eagle Asset Management Inc. now owns 245,204 shares of the information technology services provider’s stock valued at $25,991,000 after acquiring an additional 61,172 shares in the last quarter.
In other news, CRO David Schneider sold 16,349 shares of the 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 31,293 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $107.84, for a total value of $3,374,637.12. Following the completion of the sale, the director now owns 36,664 shares in the company, valued at $3,953,845.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,176,353 shares of company stock worth $130,353,261. Company insiders own 3.30% of the company’s stock.
Shares of ServiceNow, Inc. (NYSE NOW) opened at 116.68 on Wednesday. The company’s market capitalization is $19.92 billion. ServiceNow, Inc. has a 12 month low of $72.80 and a 12 month high of $118.64. The stock has a 50 day moving average price of $111.66 and a 200-day moving average price of $101.44.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business had revenue of $471.70 million for the quarter, compared to the consensus estimate of $462.11 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post $1.17 earnings per share for the current fiscal year.
Several analysts have weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and issued a $120.00 price target on shares of ServiceNow in a report on Friday, September 1st. Moffett Nathanson assumed coverage on ServiceNow in a report on Wednesday, September 6th. They issued a “buy” rating on the stock. Summit Redstone reaffirmed a “buy” rating and issued a $135.00 price target on shares of ServiceNow in a report on Monday. Credit Suisse Group assumed coverage on ServiceNow in a report on Tuesday, September 5th. They issued an “outperform” rating and a $135.00 price target on the stock. Finally, OTR Global cut ServiceNow to a “positive” rating in a report on Friday, July 14th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $118.08.
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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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