Castleark Management LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,210 shares of the information technology services provider’s stock, valued at approximately $446,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its stake in shares of ServiceNow by 7.6% during the second 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 period. Cubist Systematic Strategies LLC lifted its stake in shares of ServiceNow by 155.7% during the second 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 period. Steadfast Capital Management LP purchased a new position in shares of ServiceNow during the second quarter valued at approximately $57,787,000. Janus Henderson Group PLC lifted its stake in shares of ServiceNow by 4.2% during the second 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 period. Finally, Capital Research Global Investors purchased a new position in shares of ServiceNow during the second quarter valued at approximately $93,763,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. Mizuho reissued a “buy” rating on shares of ServiceNow in a research note on Monday. BMO Capital Markets reissued a “buy” rating and set a $127.00 price objective on shares of ServiceNow in a research note on Friday, October 13th. Robert W. Baird set a $120.00 price objective on shares of ServiceNow and gave the company a “buy” rating in a research note on Friday, October 6th. Summit Redstone reissued a “buy” rating and set a $135.00 price objective on shares of ServiceNow in a research note on Monday, September 18th. Finally, Moffett Nathanson assumed coverage on shares of ServiceNow in a research note on Wednesday, September 6th. They set a “buy” rating on the stock. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $118.56.

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In other news, CRO David Schneider sold 16,349 shares of ServiceNow stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 31,293 shares of ServiceNow stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $107.84, for a total transaction of $3,374,637.12. Following the completion of the transaction, the director now directly owns 36,664 shares in the company, valued at approximately $3,953,845.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,172,353 shares of company stock worth $133,460,161. Insiders own 3.30% of the company’s stock.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $471.70 million for the quarter, compared to analyst estimates of $462.11 million. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share.

About ServiceNow

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.

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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