UBS Asset Management Americas Inc. cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 19.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,169,722 shares of the information technology services provider’s stock after selling 289,507 shares during the period. UBS Asset Management Americas Inc. owned about 0.69% of ServiceNow worth $123,991,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. LS Investment Advisors LLC raised its position in ServiceNow by 3.6% during the second 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 raised its position in ServiceNow by 5.8% during the second 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. Nordea Investment Management AB raised its position in ServiceNow by 2.5% during the first quarter. Nordea Investment Management AB now owns 3,567 shares of the information technology services provider’s stock worth $312,000 after acquiring an additional 88 shares during the period. Crow Point Partners LLC raised its position in ServiceNow by 8.8% during the second 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. Finally, Pacer Advisors Inc. raised its position in ServiceNow by 3.2% during the first quarter. Pacer Advisors Inc. now owns 3,501 shares of the information technology services provider’s stock worth $306,000 after acquiring an additional 110 shares during the period.
In other ServiceNow news, Director Frank Slootman sold 150,000 shares of ServiceNow stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $104.09, for a total value of $15,613,500.00. Following the completion of the sale, the director now owns 356,287 shares in the company, valued at approximately $37,085,913.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Scarpelli sold 75,000 shares of ServiceNow stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.68, for a total value of $8,076,000.00. Following the completion of the sale, the insider now 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 sold a total of 1,176,353 shares of company stock valued at $130,353,261 in the last 90 days. 3.30% of the stock is owned by company insiders.
A number of equities analysts have weighed in on NOW shares. Sanford C. Bernstein started coverage on shares of ServiceNow in a research report on Wednesday, May 24th. They set an “outperform” rating and a $120.00 price objective for the company. Stephens began coverage on shares of ServiceNow in a report on Thursday, May 25th. They set an “overweight” rating and a $120.00 target price for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $110.00 target price on shares of ServiceNow in a report on Monday, May 29th. ValuEngine raised shares of ServiceNow from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $115.00 target price (up previously from $107.00) on shares of ServiceNow in a report on Monday, June 5th. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $118.08.
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ServiceNow, Inc. (NYSE NOW) opened at 114.925 on Thursday. The firm’s 50-day moving average is $111.66 and its 200 day moving average is $101.44. The stock’s market cap is $19.62 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 results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $462.11 million. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The firm’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post $1.17 EPS for the current year.
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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