Piedmont Investment Advisors LLC Holds Position in ServiceNow, Inc. (NOW)
Piedmont Investment Advisors LLC held its position in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,400 shares of the information technology services provider’s stock at the end of the 2nd quarter. Piedmont Investment Advisors LLC’s holdings in ServiceNow were worth $1,208,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Castleark Management LLC acquired a new stake in ServiceNow in the 2nd quarter valued at approximately $446,000. Raymond James Financial Services Advisors Inc. grew its holdings in ServiceNow by 7.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 44,307 shares of the information technology services provider’s stock valued at $4,697,000 after buying an additional 3,129 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in ServiceNow by 155.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,312 shares of the information technology services provider’s stock valued at $7,029,000 after buying an additional 40,381 shares during the last quarter. Steadfast Capital Management LP acquired a new stake in ServiceNow in the 2nd quarter valued at approximately $57,787,000. Finally, Janus Henderson Group PLC grew its holdings in ServiceNow by 4.2% in the 2nd quarter. Janus Henderson Group PLC now owns 860,528 shares of the information technology services provider’s stock valued at $91,195,000 after buying an additional 34,362 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have issued reports on NOW. BMO Capital Markets reaffirmed a “buy” rating and issued a $127.00 target price on shares of ServiceNow in a report on Friday. Robert W. Baird set a $120.00 target price on ServiceNow and gave the company a “buy” rating in a report on Friday, October 6th. Mizuho reaffirmed a “buy” rating on shares of ServiceNow in a report on Monday. Moffett Nathanson began coverage on ServiceNow in a report on Wednesday, September 6th. They issued a “buy” rating on the stock. Finally, Summit Redstone reaffirmed a “buy” rating and issued a $135.00 target price on shares of ServiceNow in a report on Monday, September 18th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $118.56.
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In other news, Director Frederic B. Luddy sold 50,000 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $120.82, for a total value of $6,041,000.00. Following the completion of the transaction, the director now directly owns 29,990 shares in the company, valued at approximately $3,623,391.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO David Schneider sold 16,349 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $107.25, for a total value of $1,753,430.25. The disclosure for this sale can be found here. Insiders have sold 1,172,353 shares of company stock valued at $133,460,161 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.
Shares of ServiceNow, Inc. (NOW) traded down 0.02% during trading on Tuesday, reaching $121.38. The company’s stock had a trading volume of 72,700 shares. The firm’s 50-day moving average is $116.78 and its 200 day moving average is $105.48. The company’s market cap is $20.72 billion. ServiceNow, Inc. has a 52-week low of $72.80 and a 52-week high of $123.13.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The firm had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $462.11 million. During the same period in the prior year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 38.2% on a year-over-year basis. On average, equities research analysts predict that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.
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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