Cullen Frost Bankers Inc. decreased its position in shares of ServiceNow Inc. (NYSE:NOW) by 6.7% during the second quarter, Holdings Channel reports. The fund owned 3,175 shares of the company’s stock after selling 228 shares during the period. Cullen Frost Bankers Inc.’s holdings in ServiceNow were worth $211,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Strs Ohio boosted its position in ServiceNow by 51.0% in the second quarter. Strs Ohio now owns 589,514 shares of the company’s stock worth $39,143,000 after buying an additional 199,190 shares in the last quarter. RS Investment Management Co. LLC acquired a new position in ServiceNow during the second quarter worth about $1,080,000. Bank of Montreal Can acquired a new position in ServiceNow during the second quarter worth about $6,138,000. Shell Asset Management Co. boosted its position in ServiceNow by 36.3% in the second quarter. Shell Asset Management Co. now owns 10,391 shares of the company’s stock worth $690,000 after buying an additional 2,765 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in ServiceNow by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 100,520 shares of the company’s stock worth $6,675,000 after buying an additional 4,420 shares in the last quarter. 95.72% of the stock is owned by institutional investors.
ServiceNow Inc. (NYSE:NOW) traded up 0.85% on Friday, hitting $79.15. The company had a trading volume of 1,568,362 shares. ServiceNow Inc. has a one year low of $46.00 and a one year high of $91.28. The stock has a 50 day moving average of $75.28 and a 200-day moving average of $70.72. The stock’s market capitalization is $13.02 billion.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.05. ServiceNow had a negative return on equity of 36.56% and a negative net margin of 38.64%. The firm earned $341.30 million during the quarter, compared to analysts’ expectations of $334.07 million. During the same quarter last year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was up 38.3% compared to the same quarter last year. Equities analysts anticipate that ServiceNow Inc. will post $0.66 EPS for the current year.
A number of research firms recently issued reports on NOW. Citigroup Inc. lifted their price target on ServiceNow from $77.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Vetr upgraded ServiceNow from a “buy” rating to a “strong-buy” rating and set a $83.80 price objective for the company in a research report on Monday, June 13th. BTIG Research reiterated a “buy” rating and issued a $85.00 price objective on shares of ServiceNow in a research report on Monday, June 6th. Zacks Investment Research upgraded ServiceNow from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Wednesday, August 3rd. Finally, OTR Global upgraded ServiceNow to a “positive” rating in a research report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $84.47.
In other ServiceNow news, CRO David Schneider sold 3,627 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $75.00, for a total value of $272,025.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel Mcgee sold 14,191 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $80.00, for a total value of $1,135,280.00. Following the completion of the sale, the chief operating officer now directly owns 5,321 shares of the company’s stock, valued at approximately $425,680. The disclosure for this sale can be found here. 5.90% of the stock is owned by company 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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