Sei Investments Co. trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,772 shares of the information technology services provider’s stock after selling 13,798 shares during the period. Sei Investments Co. owned approximately 0.11% of ServiceNow worth $22,775,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cornerstone Advisors Inc. boosted its stake in ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after acquiring an additional 245 shares in the last quarter. Barrett Asset Management LLC acquired a new stake in ServiceNow in the second quarter valued at approximately $117,000. SeaBridge Investment Advisors LLC acquired a new stake in ServiceNow in the third quarter valued at approximately $118,000. Rockefeller Financial Services Inc. acquired a new stake in shares of ServiceNow during the third quarter worth $138,000. Finally, Crow Point Partners LLC lifted its stake in shares of 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 buying an additional 107 shares during the period. Institutional investors own 98.78% of the company’s stock.
Several equities research analysts have recently commented on NOW shares. Mizuho reiterated a “buy” rating on shares of ServiceNow in a research note on Monday, October 16th. Canaccord Genuity reiterated a “buy” rating and set a $150.00 price objective (up from $130.00) on shares of ServiceNow in a research note on Thursday, October 26th. Guggenheim reiterated a “buy” rating and set a $120.00 price objective (up from $108.00) on shares of ServiceNow in a research note on Thursday, July 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $150.00 price objective on shares of ServiceNow in a research note on Monday, November 6th. Finally, Robert W. Baird reiterated a “buy” rating and set a $120.00 price objective on shares of ServiceNow in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-nine have assigned a buy rating and three have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $130.50.
Shares of ServiceNow, Inc. (NYSE NOW) opened at $125.03 on Tuesday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.66 and a current ratio of 1.66. ServiceNow, Inc. has a one year low of $72.80 and a one year high of $129.56.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. The business had revenue of $498.20 million during 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%. The company’s quarterly revenue was up 39.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. equities analysts forecast that ServiceNow, Inc. will post -0.35 earnings per share for the current fiscal year.
In related news, Director Frederic B. Luddy sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $120.82, for a total transaction of $6,041,000.00. Following the transaction, the director now directly owns 29,990 shares in the company, valued at $3,623,391.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $125.96, for a total transaction of $18,894,000.00. Following the transaction, the director now owns 216,535 shares in the company, valued at $27,274,748.60. The disclosure for this sale can be found here. Insiders have sold 1,022,500 shares of company stock valued at $119,687,175 in the last three months. Corporate insiders own 3.30% of the company’s stock.
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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