Tudor Investment Corp ET AL Increases Position in ServiceNow, Inc. (NOW)

Tudor Investment Corp ET AL raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 806.8% during the first quarter, Holdings Channel reports. The firm owned 25,255 shares of the information technology services provider’s stock after buying an additional 22,470 shares during the period. Tudor Investment Corp ET AL’s holdings in ServiceNow were worth $2,209,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NOW. Vanguard Group Inc. raised its stake in shares of ServiceNow by 8.1% in the first quarter. Vanguard Group Inc. now owns 13,244,656 shares of the information technology services provider’s stock worth $1,158,511,000 after buying an additional 994,461 shares during the period. FMR LLC raised its stake in ServiceNow by 91.1% in the first quarter. FMR LLC now owns 3,280,069 shares of the information technology services provider’s stock valued at $286,908,000 after buying an additional 1,563,778 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in ServiceNow by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 2,243,355 shares of the information technology services provider’s stock valued at $196,226,000 after buying an additional 254,144 shares during the last quarter. Norges Bank purchased a new stake in ServiceNow during the fourth quarter valued at about $101,728,000. Finally, Jennison Associates LLC raised its stake in ServiceNow by 2.7% in the first quarter. Jennison Associates LLC now owns 1,257,996 shares of the information technology services provider’s stock valued at $110,037,000 after buying an additional 33,300 shares during the last quarter. Institutional investors and hedge funds own 97.68% of the company’s stock.

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Shares of ServiceNow, Inc. (NYSE NOW) traded up 1.24% during midday trading on Thursday, hitting $106.93. 2,327,656 shares of the stock were exchanged. ServiceNow, Inc. has a 52-week low of $63.51 and a 52-week high of $110.66. The stock’s market cap is $18.15 billion. The firm’s 50 day moving average price is $101.63 and its 200-day moving average price is $89.73. ServiceNow also was the recipient of some unusual options trading on Monday. Traders acquired 9,103 put options on the company. This is an increase of 562% compared to the typical daily volume of 1,376 put options.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.02. ServiceNow had a negative net margin of 10.60% and a negative return on equity of 31.34%. The company had revenue of $416.80 million for the quarter, compared to analysts’ expectations of $409.26 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post $1.16 earnings per share for the current fiscal year.

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Several analysts have recently issued reports on NOW shares. Sanford C. Bernstein started coverage on shares of ServiceNow in a research note on Wednesday, May 24th. They issued an “outperform” rating and a $120.00 target price for the company. Robert W. Baird started coverage on shares of ServiceNow in a research note on Tuesday, February 28th. They issued an “outperform” rating and a $103.00 target price for the company. BMO Capital Markets upped their target price on shares of ServiceNow from $104.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $110.00 target price on shares of ServiceNow in a research note on Monday, May 29th. Finally, Zacks Investment Research lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $103.55.

In other ServiceNow news, insider John J. Donahoe purchased 11,236 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were bought at an average cost of $98.05 per share, with a total value of $1,101,689.80. Following the acquisition, the insider now owns 5,618 shares in the company, valued at $550,844.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 167,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $108.34, for a total value of $18,092,780.00. Following the completion of the transaction, the director now directly owns 11,190 shares in the company, valued at $1,212,324.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 529,673 shares of company stock worth $50,277,906. Insiders own 5.90% of the company’s stock.

About ServiceNow

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).

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