Andra AP fonden Acquires 3,500 Shares of ServiceNow Inc (NOW)

Andra AP fonden lifted its holdings in shares of ServiceNow Inc (NYSE:NOW) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,000 shares of the information technology services provider’s stock after buying an additional 3,500 shares during the period. Andra AP fonden’s holdings in ServiceNow were worth $5,519,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NOW. Peregrine Capital Management LLC raised its holdings in ServiceNow by 0.3% during the second quarter. Peregrine Capital Management LLC now owns 97,301 shares of the information technology services provider’s stock worth $16,782,000 after purchasing an additional 284 shares in the last quarter. IHT Wealth Management LLC raised its holdings in ServiceNow by 66.7% during the first quarter. IHT Wealth Management LLC now owns 750 shares of the information technology services provider’s stock worth $121,000 after purchasing an additional 300 shares in the last quarter. Macguire Cheswick & Tuttle Investment Counsel LLC raised its holdings in ServiceNow by 4.8% during the second quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 6,505 shares of the information technology services provider’s stock worth $1,122,000 after purchasing an additional 300 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in ServiceNow by 33.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,228 shares of the information technology services provider’s stock worth $212,000 after purchasing an additional 305 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its holdings in ServiceNow by 3.0% during the first quarter. First Republic Investment Management Inc. now owns 10,824 shares of the information technology services provider’s stock worth $1,791,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Shares of ServiceNow stock opened at $193.12 on Tuesday. ServiceNow Inc has a 12-month low of $110.17 and a 12-month high of $206.29. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $33.75 billion, a price-to-earnings ratio of -177.60, a P/E/G ratio of 45.04 and a beta of 1.25.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. ServiceNow had a negative net margin of 4.16% and a negative return on equity of 7.48%. The company had revenue of $631.05 million during the quarter, compared to analysts’ expectations of $616.68 million. During the same period last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 40.8% compared to the same quarter last year. sell-side analysts predict that ServiceNow Inc will post 0.16 earnings per share for the current year.

In other news, insider Chirantan Jitendra Desai sold 6,962 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $180.17, for a total transaction of $1,254,343.54. Following the completion of the transaction, the insider now directly owns 3,460 shares of the company’s stock, valued at approximately $623,388.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frederic B. Luddy sold 32,500 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $196.45, for a total transaction of $6,384,625.00. Following the transaction, the director now directly owns 282,383 shares of the company’s stock, valued at $55,474,140.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,350 shares of company stock valued at $35,612,720. 1.60% of the stock is currently owned by corporate insiders.

Several research analysts recently issued reports on NOW shares. Deutsche Bank increased their price target on shares of ServiceNow from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. Piper Jaffray Companies reissued an “overweight” rating and set a $210.00 price target on shares of ServiceNow in a report on Friday, July 20th. Deutsche Bank increased their price target on shares of ServiceNow to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. JMP Securities increased their price target on shares of ServiceNow to $220.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Finally, Morgan Stanley increased their price target on shares of ServiceNow from $172.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. ServiceNow currently has an average rating of “Buy” and an average target price of $200.04.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

Featured Story: Stock Symbols and CUSIP Explained

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).

Institutional Ownership by Quarter for ServiceNow (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.

Leave a Reply