ServiceNow, Inc. (NOW) Stake Increased by Investec Asset Management LTD
Investec Asset Management LTD lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 42.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,635 shares of the information technology services provider’s stock after purchasing an additional 20,014 shares during the quarter. Investec Asset Management LTD’s holdings in ServiceNow were worth $7,832,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in NOW. SeaBridge Investment Advisors LLC purchased a new position in ServiceNow during the 3rd quarter worth approximately $118,000. Barrett Asset Management LLC purchased a new position in ServiceNow during the 2nd quarter worth approximately $117,000. Rockefeller Financial Services Inc. purchased a new position in ServiceNow during the 3rd quarter worth approximately $138,000. Commonwealth Bank of Australia raised its position in ServiceNow by 5.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock worth $159,000 after buying an additional 83 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in ServiceNow by 3.6% during the 2nd quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock worth $184,000 after buying an additional 61 shares during the last quarter.
Shares of ServiceNow, Inc. (NOW) traded down $0.34 during mid-day trading on Friday, hitting $122.66. 1,239,777 shares of the stock traded hands, compared to its average volume of 1,575,712. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.66 and a current ratio of 1.66. ServiceNow, Inc. has a 1 year low of $72.80 and a 1 year high of $130.05.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. The firm had revenue of $498.20 million for the quarter, compared to analyst estimates of $491.62 million. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. ServiceNow’s revenue was up 39.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. analysts forecast that ServiceNow, Inc. will post -0.35 earnings per share for the current year.
Several research firms have recently weighed in on NOW. Mizuho reaffirmed a “buy” rating on shares of ServiceNow in a report on Monday, October 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $150.00 target price (up from $130.00) on shares of ServiceNow in a report on Thursday, October 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $150.00 target price on shares of ServiceNow in a report on Monday, November 6th. Robert W. Baird reaffirmed a “buy” rating and set a $120.00 target price on shares of ServiceNow in a report on Friday, September 1st. Finally, Argus reaffirmed a “buy” rating and set a $150.00 target price (up from $125.00) on shares of ServiceNow in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have assigned a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $130.50.
In other ServiceNow news, CRO David Schneider sold 16,349 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $124.21, for a total transaction of $2,030,709.29. Following the sale, the executive now directly owns 67,185 shares in the company, valued at $8,345,048.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 82,500 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $116.13, for a total transaction of $9,580,725.00. Following the sale, the director now owns 29,990 shares in the company, valued at $3,482,738.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 907,674 shares of company stock worth $109,676,725. 3.30% of the stock is owned by insiders.
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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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