ServiceNow, Inc. (NYSE:NOW) Stake Reduced by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. reduced its position in ServiceNow, Inc. (NYSE:NOW) by 43.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,859 shares of the information technology services provider’s stock after selling 51,031 shares during the period. Daiwa Securities Group Inc.’s holdings in ServiceNow were worth $6,981,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of NOW. Vista Equity Partners Management LLC raised its position in shares of ServiceNow by 27.4% in the first quarter. Vista Equity Partners Management LLC now owns 68,743 shares of the information technology services provider’s stock worth $6,013,000 after buying an additional 14,772 shares in the last quarter. Teachers Advisors LLC raised its position in shares of ServiceNow by 29.0% in the first quarter. Teachers Advisors LLC now owns 698,964 shares of the information technology services provider’s stock worth $61,138,000 after buying an additional 157,079 shares in the last quarter. United Services Automobile Association raised its position in shares of ServiceNow by 44.6% in the first quarter. United Services Automobile Association now owns 250,551 shares of the information technology services provider’s stock worth $21,916,000 after buying an additional 77,239 shares in the last quarter. TLP Group LLC purchased a new position in shares of ServiceNow during the first quarter worth approximately $131,000. Finally, Laurion Capital Management LP purchased a new position in shares of ServiceNow during the first quarter worth approximately $1,356,000. Hedge funds and other institutional investors own 97.53% of the company’s stock.
ServiceNow, Inc. (NOW) opened at 109.71 on Monday. The firm has a 50-day moving average of $107.37 and a 200 day moving average of $95.91. ServiceNow, Inc. has a 52-week low of $71.25 and a 52-week high of $115.85. The company’s market cap is $18.70 billion.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $462.11 million. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 30.72%. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. Equities research analysts expect that ServiceNow, Inc. will post $1.17 earnings per share for the current fiscal year.
NOW has been the topic of a number of recent analyst reports. BidaskClub lowered shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Canaccord Genuity reiterated a “buy” rating and issued a $105.00 price objective on shares of ServiceNow in a report on Friday, April 21st. Zacks Investment Research upgraded shares of ServiceNow from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a report on Friday, April 28th. BTIG Research reiterated a “buy” rating on shares of ServiceNow in a report on Monday, April 24th. Finally, ValuEngine upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $115.96.
In other news, insider John J. Donahoe bought 11,236 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average price of $98.05 per share, for a total transaction of $1,101,689.80. Following the transaction, the insider now directly owns 5,618 shares of the company’s stock, valued at approximately $550,844.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederic B. Luddy sold 167,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $108.34, for a total transaction of $18,092,780.00. Following the sale, the director now owns 11,190 shares of the company’s stock, valued at approximately $1,212,324.60. The disclosure for this sale can be found here. Insiders have sold a total of 731,884 shares of company stock valued at $79,049,745 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.
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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