3,144 Shares in ServiceNow, Inc. (NOW) Acquired by BT Investment Management Ltd
BT Investment Management Ltd acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,144 shares of the information technology services provider’s stock, valued at approximately $333,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Advisors Inc. lifted its stake in ServiceNow by 29.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after acquiring an additional 245 shares during the period. Barrett Asset Management LLC acquired a new position in shares of ServiceNow in the 2nd quarter valued at $117,000. Crow Point Partners LLC lifted its stake in shares of ServiceNow by 8.8% in the 2nd 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 period. Global X Management Co. LLC lifted its stake in shares of ServiceNow by 30.6% in the 1st 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 period. Finally, TLP Group LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at $131,000.
Shares of ServiceNow, Inc. (NOW) opened at 115.02 on Friday. ServiceNow, Inc. has a 12-month low of $72.80 and a 12-month high of $118.64. The stock’s market cap is $19.64 billion. The stock’s 50 day moving average is $111.66 and its 200-day moving average is $101.44.
ServiceNow (NYSE:NOW) last released 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 consensus estimate of $0.20 by $0.02. The business had revenue of $471.70 million during the quarter, compared to the consensus estimate of $462.11 million. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. Equities analysts anticipate that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.
Several research firms recently issued reports on NOW. Robert W. Baird reiterated a “buy” rating and issued a $120.00 target price on shares of ServiceNow in a research note on Friday, September 1st. Moffett Nathanson began coverage on shares of ServiceNow in a research note on Wednesday, September 6th. They issued a “buy” rating for the company. Summit Redstone reiterated a “buy” rating and issued a $135.00 target price on shares of ServiceNow in a research note on Monday. Credit Suisse Group began coverage on shares of ServiceNow in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $135.00 target price for the company. Finally, OTR Global cut shares of ServiceNow to a “positive” rating in a research note on Friday, July 14th. Eight investment 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 company’s stock. The company has a consensus rating of “Buy” and an average price target of $118.08.
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In related news, CRO David Schneider sold 16,349 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $107.25, for a total value of $1,753,430.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 165,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $116.03, for a total transaction of $19,144,950.00. Following the completion of the transaction, the director now directly owns 29,990 shares of the company’s stock, valued at approximately $3,479,739.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,176,353 shares of company stock valued at $130,353,261 in the last ninety days. Corporate insiders own 3.30% 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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