Commerce Bank purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,090 shares of the information technology services provider’s stock, valued at approximately $221,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capstone Asset Management Co. boosted its stake in ServiceNow by 16.3% in the first quarter. Capstone Asset Management Co. now owns 3,782 shares of the information technology services provider’s stock valued at $331,000 after acquiring an additional 530 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in ServiceNow in the first quarter valued at about $175,000. Waldron LP purchased a new position in ServiceNow in the first quarter valued at about $429,000. Profund Advisors LLC purchased a new position in ServiceNow in the first quarter valued at about $221,000. Finally, ProShare Advisors LLC boosted its stake in ServiceNow by 10.8% in the first quarter. ProShare Advisors LLC now owns 3,897 shares of the information technology services provider’s stock valued at $341,000 after acquiring an additional 379 shares during the last quarter.
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In related news, insider Michael Scarpelli sold 75,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.68, for a total value of $8,076,000.00. Following the completion of the sale, the insider now directly owns 252,368 shares of the company’s stock, valued at $27,174,986.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 252,211 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $109.19, for a total transaction of $27,538,919.09. Following the completion of the sale, the director now directly owns 356,287 shares of the company’s stock, valued at $38,902,977.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 928,853 shares of company stock valued at $101,627,586. 3.30% of the stock is owned by insiders.
ServiceNow, Inc. (NYSE:NOW) opened at 116.26 on Wednesday. ServiceNow, Inc. has a 52 week low of $71.34 and a 52 week high of $118.64. The company’s market capitalization is $19.85 billion. The company has a 50 day moving average of $110.53 and a 200 day moving average of $100.21.
ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. The firm had revenue of $471.70 million during the quarter, compared to analyst estimates of $462.11 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The business’s revenue was up 38.2% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.
A number of research analysts have weighed in on NOW shares. Zacks Investment Research upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. 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 on the stock. Guggenheim reiterated a “buy” rating and issued a $120.00 target price (up from $108.00) on shares of ServiceNow in a research note on Thursday, July 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, ValuEngine upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Eight research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have given a strong buy rating to the stock. ServiceNow has a consensus rating of “Buy” and an average target price of $117.40.
ServiceNow Company Profile
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.
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