Seven Bridges Advisors LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 45.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,286 shares of the information technology services provider’s stock after buying an additional 713 shares during the period. Seven Bridges Advisors LLC’s holdings in ServiceNow were worth $242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. British Airways Pensions Investment Management Ltd bought a new position in shares of ServiceNow during the second quarter worth approximately $12,533,000. Pictet Asset Management Ltd. increased its position in shares of ServiceNow by 19.7% in the second quarter. Pictet Asset Management Ltd. now owns 541,300 shares of the information technology services provider’s stock worth $56,647,000 after buying an additional 89,200 shares during the last quarter. TD Asset Management Inc. increased its position in shares of ServiceNow by 15.5% in the second quarter. TD Asset Management Inc. now owns 328,849 shares of the information technology services provider’s stock worth $34,858,000 after buying an additional 44,054 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in shares of ServiceNow by 15.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 165,505 shares of the information technology services provider’s stock worth $17,544,000 after buying an additional 22,312 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in shares of ServiceNow by 21.5% in the second quarter. Cullen Frost Bankers Inc. now owns 82,638 shares of the information technology services provider’s stock worth $8,760,000 after buying an additional 14,648 shares during the last quarter. 97.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ServiceNow, Inc. (NOW) opened at 107.68 on Wednesday. The company’s market cap is $18.35 billion. The firm has a 50-day moving average of $107.90 and a 200 day moving average of $96.17. ServiceNow, Inc. has a one year low of $71.25 and a one year high of $115.85.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 30.72% and a negative net margin of 10.17%. The business had revenue of $471.70 million during the quarter, compared to the consensus estimate of $462.11 million. During the same quarter last year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 38.2% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post $1.17 EPS for the current year.

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A number of brokerages recently commented on NOW. BidaskClub raised shares of ServiceNow from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Piper Jaffray Companies reiterated a “hold” rating on shares of ServiceNow in a research note on Friday, July 28th. TheStreet upgraded shares of ServiceNow from a “d” rating to a “c-” rating in a research note on Wednesday, July 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $110.00 target price (up from $93.00) on shares of ServiceNow in a research note on Thursday, July 27th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $123.00 target price (up from $110.00) on shares of ServiceNow in a research note on Thursday, July 27th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $115.96.

In other news, Director Frederic B. Luddy sold 167,000 shares of ServiceNow stock in a transaction on 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 completion of the sale, the director now owns 11,190 shares of the company’s stock, valued at $1,212,324.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 252,211 shares of ServiceNow stock in a transaction 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 sale, the director now directly owns 356,287 shares of the company’s stock, valued at approximately $38,902,977.53. The disclosure for this sale can be found here. Insiders have sold 731,884 shares of company stock valued at $79,049,745 in the last three months. Insiders own 3.30% of the company’s stock.

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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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