UBS Asset Management Americas Inc. cut its position in shares of Now Inc. (NYSE:DNOW) by 2.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 99,555 shares of the company’s stock after selling 3,022 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.09% of Now worth $1,805,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. State Street Corp raised its position in Now by 2.4% in the first quarter. State Street Corp now owns 2,842,591 shares of the company’s stock worth $50,365,000 after buying an additional 66,585 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Now by 4,491.3% in the second quarter. BNP Paribas Arbitrage SA now owns 53,076 shares of the company’s stock valued at $963,000 after buying an additional 51,920 shares during the last quarter. DAVENPORT & Co LLC raised its position in shares of Now by 7.5% in the second quarter. DAVENPORT & Co LLC now owns 10,812 shares of the company’s stock valued at $196,000 after buying an additional 755 shares during the last quarter. BB&T Securities LLC raised its position in shares of Now by 18.7% in the first quarter. BB&T Securities LLC now owns 15,038 shares of the company’s stock valued at $266,000 after buying an additional 2,374 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Now by 24.4% in the first quarter. JPMorgan Chase & Co. now owns 112,446 shares of the company’s stock valued at $1,992,000 after buying an additional 22,026 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.
Now Inc. (NYSE:DNOW) traded down 0.8708% on Tuesday, reaching $22.4825. 36,632 shares of the company traded hands. The stock’s market capitalization is $2.42 billion. Now Inc. has a 52-week low of $12.03 and a 52-week high of $22.81. The firm has a 50 day moving average price of $20.64 and a 200 day moving average price of $18.89.
Now (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.40) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.06. The firm had revenue of $501 million for the quarter, compared to analysts’ expectations of $456.96 million. Now had a negative return on equity of 8.92% and a negative net margin of 23.71%. Now’s revenue was down 33.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) EPS. Equities research analysts predict that Now Inc. will post ($1.52) EPS for the current year.
Several research analysts have recently weighed in on DNOW shares. Cowen and Company started coverage on shares of Now in a report on Friday, September 16th. They set a “market perform” rating and a $22.00 price objective on the stock. KeyCorp restated a “hold” rating on shares of Now in a report on Tuesday, September 27th. Finally, Zacks Investment Research upgraded shares of Now from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Five analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus target price of $18.00.
NOW Inc (NOW) is a global distributor to energy and industrial markets. The Company operates primarily under the DistributionNOW and Wilson Export brands. The Company operates through three segments: United States (U.S.), Canada and International. Through its network of over 300 locations across the world, it stocks and sells an offering of energy products, as well as a selection of products for industrial applications.
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