New York State Common Retirement Fund Increases Holdings in ServiceNow, Inc. (NOW)
New York State Common Retirement Fund boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 364,000 shares of the information technology services provider’s stock after acquiring an additional 18,199 shares during the quarter. New York State Common Retirement Fund owned 0.21% of ServiceNow worth $38,584,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cornerstone Advisors Inc. lifted its holdings in shares of 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 buying an additional 245 shares during the last quarter. Barrett Asset Management LLC acquired a new stake in shares of ServiceNow during the 2nd quarter valued at about $117,000. Crow Point Partners LLC lifted its holdings in shares of ServiceNow by 8.8% during 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 buying an additional 107 shares during the last quarter. Global X Management Co. LLC lifted its holdings in shares of ServiceNow by 30.6% during 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 buying an additional 330 shares during the last quarter. Finally, TLP Group LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at about $131,000.
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Several equities research analysts have recently issued reports on the company. BidaskClub lowered ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Seaport Global Securities lowered ServiceNow from a “buy” rating to a “neutral” rating in a report on Wednesday, June 21st. BMO Capital Markets lifted their price target on ServiceNow from $110.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Raymond James Financial, Inc. lifted their price target on ServiceNow from $110.00 to $126.00 and gave the company a “strong-buy” rating in a report on Thursday, July 27th. Finally, JMP Securities restated an “outperform” rating on shares of ServiceNow in a report on Thursday, July 27th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have given a strong buy rating to the company’s stock. ServiceNow currently has a consensus rating of “Buy” and a consensus target price of $118.08.
Shares of ServiceNow, Inc. (NOW) opened at 115.81 on Friday. ServiceNow, Inc. has a 12-month low of $72.80 and a 12-month high of $118.64. The company’s market cap is $19.77 billion. The company has a 50-day moving average price of $111.66 and a 200-day moving average price of $101.44.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $471.70 million for 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 quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. On average, analysts predict that ServiceNow, Inc. will post $1.17 earnings per share for the current year.
In other ServiceNow news, CRO David Schneider sold 16,349 shares of ServiceNow stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $107.25, for a total transaction of $1,753,430.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 150,000 shares of ServiceNow stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $104.09, for a total value of $15,613,500.00. Following the transaction, the director now directly owns 356,287 shares in the company, valued at $37,085,913.83. The disclosure for this sale can be found here. Insiders have sold a total of 1,176,353 shares of company stock worth $130,353,261 over the last ninety days. Company 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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