Artisan Partners Limited Partnership increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 283,884 shares of the information technology services provider’s stock after buying an additional 4,571 shares during the quarter. Artisan Partners Limited Partnership owned about 0.17% of ServiceNow worth $30,092,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. FMR LLC lifted its position in ServiceNow by 91.1% during the first quarter. FMR LLC now owns 3,280,069 shares of the information technology services provider’s stock worth $286,908,000 after buying an additional 1,563,778 shares during the period. Vanguard Group Inc. lifted its position in ServiceNow by 8.1% during the first quarter. Vanguard Group Inc. now owns 13,244,656 shares of the information technology services provider’s stock worth $1,158,511,000 after buying an additional 994,461 shares during the period. Renaissance Technologies LLC lifted its position in ServiceNow by 770.6% during the first quarter. Renaissance Technologies LLC now owns 1,072,600 shares of the information technology services provider’s stock worth $93,820,000 after buying an additional 949,400 shares during the period. Allen Investment Management LLC purchased a new position in ServiceNow during the second quarter worth about $45,372,000. Finally, Federated Investors Inc. PA lifted its position in ServiceNow by 29.4% during the second quarter. Federated Investors Inc. PA now owns 1,723,732 shares of the information technology services provider’s stock worth $182,716,000 after buying an additional 391,932 shares during the period.
Shares of ServiceNow, Inc. (NYSE NOW) opened at 116.47 on Wednesday. The firm’s 50-day moving average price is $111.66 and its 200-day moving average price is $101.44. The firm’s market cap is $19.88 billion. ServiceNow, Inc. has a 52 week low of $72.80 and a 52 week high of $118.64.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $462.11 million. During the same quarter in the previous year, the firm earned $0.15 EPS. The firm’s revenue was up 38.2% compared to the same quarter last year. Equities research analysts expect that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.
In related news, CRO David Schneider sold 16,349 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $107.25, for a total transaction of $1,753,430.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Scarpelli sold 75,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total value of $8,076,000.00. Following the transaction, the insider now directly owns 252,368 shares of the company’s stock, valued at approximately $27,174,986.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,176,353 shares of company stock valued at $130,353,261 in the last three months. 3.30% of the stock is owned by insiders.
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NOW has been the topic of several recent analyst reports. Zacks Investment Research downgraded ServiceNow from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. BidaskClub upgraded ServiceNow from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Morgan Stanley reiterated an “overweight” rating and set a $134.00 target price (up from $124.00) on shares of ServiceNow in a research report on Thursday, July 20th. Barclays PLC reiterated an “overweight” rating and set a $115.00 target price (up from $107.00) on shares of ServiceNow in a research report on Monday, June 5th. Finally, J P Morgan Chase & Co started coverage on ServiceNow in a report on Friday, June 23rd. They issued an “overweight” rating and a $125.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $118.08.
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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