ServiceNow, Inc. (NOW) Stake Boosted by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 34.5% during the first quarter, Holdings Channel reports. The fund owned 32,718 shares of the information technology services provider’s stock after buying an additional 8,393 shares during the period. PNC Financial Services Group Inc.’s holdings in ServiceNow were worth $2,863,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Tudor Investment Corp Et Al purchased a new position in ServiceNow during the fourth quarter worth about $207,000. Sciencast Management LP purchased a new position in ServiceNow during the fourth quarter worth about $281,000. GSA Capital Partners LLP purchased a new position in ServiceNow during the fourth quarter worth about $2,799,000. A.R.T. Advisors LLC purchased a new position in ServiceNow during the fourth quarter worth about $1,352,000. Finally, Envestnet Asset Management Inc. boosted its position in ServiceNow by 3.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,356 shares of the information technology services provider’s stock worth $398,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 97.68% of the company’s stock.
Shares of ServiceNow, Inc. (NYSE:NOW) traded up 0.58% on Tuesday, hitting $104.20. 541,907 shares of the stock traded hands. The stock’s market cap is $17.68 billion. ServiceNow, Inc. has a 52-week low of $63.51 and a 52-week high of $110.66. The stock’s 50 day moving average price is $101.39 and its 200 day moving average price is $89.54. ServiceNow also was the target of some unusual options trading activity on Monday. Traders bought 9,103 put options on the company. This is an increase of approximately 562% compared to the average volume of 1,376 put options.
ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 26th. The information technology services provider reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $416.80 million for the quarter, compared to analysts’ expectations of $409.26 million. ServiceNow had a negative net margin of 10.60% and a negative return on equity of 31.34%. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. On average, equities analysts expect that ServiceNow, Inc. will post $1.16 EPS for the current fiscal year.
A number of equities analysts have issued reports on the stock. Barclays PLC restated an “overweight” rating and issued a $115.00 price objective (up previously from $107.00) on shares of ServiceNow in a research report on Monday, June 5th. Stifel Nicolaus assumed coverage on shares of ServiceNow in a research report on Tuesday, June 6th. They issued a “buy” rating on the stock. ValuEngine upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $110.00 price objective on shares of ServiceNow in a research report on Monday, May 29th. Finally, Stephens began coverage on shares of ServiceNow in a research report on Thursday, May 25th. They set an “overweight” rating and a $120.00 price target on the stock. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. ServiceNow presently has a consensus rating of “Buy” and a consensus target price of $103.55.
In other news, CEO John J. Donahoe acquired 5,618 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were purchased at an average price of $97.93 per share, with a total value of $550,170.74. Following the transaction, the chief executive officer now directly owns 5,618 shares in the company, valued at $550,170.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John J. Donahoe acquired 11,236 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was purchased at an average cost of $98.05 per share, for a total transaction of $1,101,689.80. Following the transaction, the insider now owns 5,618 shares in the company, valued at $550,844.90. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 696,673 shares of company stock worth $64,476,246. Insiders own 5.90% of the company’s stock.
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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