Raymond James Financial Services Advisors Inc. raised its stake in ServiceNow Inc (NYSE:NOW) by 130.5% in the fourth quarter, Holdings Channel reports. The fund owned 115,240 shares of the information technology services provider’s stock after purchasing an additional 65,240 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in ServiceNow were worth $15,026,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Ark Investment Management LLC raised its holdings in shares of ServiceNow by 113.3% in the second quarter. Ark Investment Management LLC now owns 7,713 shares of the information technology services provider’s stock worth $818,000 after acquiring an additional 4,097 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of ServiceNow by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 158,144 shares of the information technology services provider’s stock valued at $16,764,000 after purchasing an additional 4,803 shares during the period. AHL Partners LLP purchased a new stake in shares of ServiceNow in the second quarter valued at $287,000. WINTON GROUP Ltd purchased a new stake in shares of ServiceNow in the second quarter valued at $262,000. Finally, Toronto Dominion Bank grew its position in shares of ServiceNow by 12.3% in the second quarter. Toronto Dominion Bank now owns 2,040 shares of the information technology services provider’s stock valued at $216,000 after purchasing an additional 224 shares during the period. 98.41% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on NOW shares. Piper Jaffray Companies raised ServiceNow from a “neutral” rating to an “overweight” rating in a research report on Monday, October 23rd. Bank of America lifted their price objective on ServiceNow from $136.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Mizuho reaffirmed a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research report on Wednesday, October 25th. Stifel Nicolaus lifted their price objective on ServiceNow from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $150.00 price objective (up previously from $125.00) on shares of ServiceNow in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $148.97.
ServiceNow Inc (NYSE:NOW) opened at $154.03 on Monday. ServiceNow Inc has a one year low of $83.42 and a one year high of $157.00. 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 (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 31st. The information technology services provider reported $0.35 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.35. The company had revenue of $546.37 million for the quarter, compared to analysts’ expectations of $532.74 million. ServiceNow had a negative return on equity of 24.97% and a negative net margin of 7.71%. The firm’s quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. research analysts predict that ServiceNow Inc will post 0.1 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This news story was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2018/02/19/raymond-james-financial-services-advisors-inc-has-15-03-million-stake-in-servicenow-inc-now.html.
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.
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow Inc (NYSE:NOW).
Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.