Price T Rowe Associates Inc. MD increased its stake in ServiceNow, Inc. (NYSE:NOW) by 16.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,810,116 shares of the company’s stock after buying an additional 3,427,033 shares during the period. Price T Rowe Associates Inc. MD owned about 0.15% of ServiceNow worth $1,963,721,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in NOW. Glynn Capital Management LLC increased its position in shares of ServiceNow by 5.8% in the second quarter. Glynn Capital Management LLC now owns 186,493 shares of the company’s stock worth $12,383,000 after buying an additional 10,237 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of ServiceNow by 9.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 443,868 shares of the company’s stock worth $29,473,000 after buying an additional 36,543 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in shares of ServiceNow by 17.6% in the second quarter. Tocqueville Asset Management L.P. now owns 52,425 shares of the company’s stock worth $3,481,000 after buying an additional 7,850 shares during the last quarter. Bbva Compass Bancshares Inc. increased its position in shares of ServiceNow by 7.3% in the second quarter. Bbva Compass Bancshares Inc. now owns 4,487 shares of the company’s stock worth $298,000 after buying an additional 306 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in shares of ServiceNow by 0.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 35,377 shares of the company’s stock worth $2,349,000 after buying an additional 200 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.
ServiceNow, Inc. (NYSE:NOW) opened at 92.46 on Monday. The stock’s market cap is $15.42 billion. The company has a 50 day moving average price of $84.12 and a 200 day moving average price of $79.78. ServiceNow, Inc. has a 52 week low of $48.11 and a 52 week high of $92.98.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 25th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. ServiceNow had a negative net margin of 32.49% and a negative return on equity of 44.13%. The business earned $385.70 million during the quarter, compared to the consensus estimate of $379.51 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post $1.08 EPS for the current fiscal year.
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NOW has been the subject of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research report on Saturday, January 28th. MKM Partners reissued a “neutral” rating and set a $95.00 price target (up from $80.00) on shares of ServiceNow in a research note on Monday, January 30th. Canaccord Genuity reaffirmed a “buy” rating and issued a $105.00 price objective on shares of ServiceNow in a research note on Thursday, January 26th. Mizuho raised their price objective on ServiceNow from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. Finally, Citigroup Inc. raised their price objective on ServiceNow from $95.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $90.78.
In related news, Director William L. Strauss sold 25,000 shares of the stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the completion of the sale, the director now directly owns 30,061 shares of the company’s stock, valued at $2,771,624.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 199,000 shares of the stock in a transaction that occurred on Thursday, December 22nd. The shares were sold at an average price of $76.04, for a total transaction of $15,131,960.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 660,443 shares of company stock valued at $53,775,954. 5.90% of the stock is owned by insiders.
ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
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