The Manufacturers Life Insurance Company reduced its position in ServiceNow, Inc. (NYSE:NOW) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,508 shares of the information technology services provider’s stock after selling 10,988 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.20% of ServiceNow worth $35,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. Cornerstone Advisors Inc. boosted its position in shares of ServiceNow by 29.2% during the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after acquiring an additional 245 shares during the last quarter. Barrett Asset Management LLC bought a new position in ServiceNow during the second quarter valued at $117,000. Global X Management Co. LLC lifted its position in ServiceNow by 30.6% during the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 330 shares during the last quarter. Crow Point Partners LLC lifted its position in ServiceNow by 8.8% during the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock valued at $140,000 after purchasing an additional 107 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its position in ServiceNow by 5.8% during the second quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock valued at $159,000 after purchasing an additional 83 shares during the last quarter.
In other news, Director Frank Slootman sold 252,211 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $109.19, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $120.51, for a total value of $12,051,000.00. The disclosure for this sale can be found here. Insiders have sold 1,276,353 shares of company stock worth $144,366,261 over the last 90 days. Insiders own 3.30% of the company’s stock.
ServiceNow, Inc. (NYSE:NOW) traded up 0.63% on Friday, reaching $122.74. 93,804 shares of the company’s stock were exchanged. The stock’s market cap is $20.95 billion. ServiceNow, Inc. has a one year low of $72.80 and a one year high of $123.13. The firm has a 50 day moving average of $116.27 and a 200-day moving average of $104.95.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $471.70 million for the quarter, compared to analyst estimates of $462.11 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. Equities research analysts forecast that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.
NOW has been the subject of several research reports. Seaport Global Securities lowered shares of ServiceNow from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 21st. J P Morgan Chase & Co initiated coverage on shares of ServiceNow in a research report on Friday, June 23rd. They set an “overweight” rating and a $125.00 price objective for the company. BidaskClub upgraded shares of ServiceNow from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Sanford C. Bernstein reiterated an “outperform” rating and set a $141.00 price objective on shares of ServiceNow in a research report on Wednesday, June 28th. Finally, Zacks Investment Research upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $118.56.
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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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