Emerald Advisers Inc. PA reduced its position in ServiceNow, Inc. (NYSE:NOW) by 9.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,563 shares of the information technology services provider’s stock after selling 2,330 shares during the period. Emerald Advisers Inc. PA’s holdings in ServiceNow were worth $2,534,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Swiss National Bank boosted its position in ServiceNow by 3.1% in the 2nd quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock valued at $64,300,000 after buying an additional 18,200 shares during the last quarter. Allen Investment Management LLC purchased a new position in ServiceNow in the 2nd quarter valued at about $45,372,000. Utah Retirement Systems boosted its position in ServiceNow by 6.3% in the 2nd quarter. Utah Retirement Systems now owns 30,600 shares of the information technology services provider’s stock valued at $3,243,000 after buying an additional 1,800 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new position in ServiceNow in the 3rd quarter valued at about $138,000. Finally, Cornerstone Advisors Inc. boosted its position in ServiceNow by 29.2% in 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.
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ServiceNow, Inc. (NYSE NOW) opened at $124.91 on Friday. ServiceNow, Inc. has a 1 year low of $72.80 and a 1 year high of $129.56. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.36.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.32 by $0.06. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 23.64%. The company had revenue of $498.20 million during the quarter, compared to analysts’ expectations of $491.62 million. During the same quarter in the previous year, the company earned $0.23 EPS. ServiceNow’s revenue was up 39.3% on a year-over-year basis. equities research analysts expect that ServiceNow, Inc. will post -0.35 EPS for the current fiscal year.
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 transaction of $1,753,430.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 31,293 shares of ServiceNow stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $107.84, for a total transaction of $3,374,637.12. Following the sale, the director now owns 36,664 shares of the company’s stock, valued at approximately $3,953,845.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,070,142 shares of company stock valued at $124,815,242. 3.30% of the stock is owned by corporate insiders.
A number of equities analysts have weighed in on the stock. Argus reissued a “buy” rating and issued a $150.00 price objective (up from $125.00) on shares of ServiceNow in a research report on Friday, October 27th. Zacks Investment Research lowered shares of ServiceNow from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. BMO Capital Markets restated a “buy” rating and issued a $133.00 target price (up previously from $127.00) on shares of ServiceNow in a research note on Thursday, October 26th. Credit Suisse Group upped their target price on shares of ServiceNow from $135.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Finally, Stifel Nicolaus upped their target price on shares of ServiceNow from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. ServiceNow presently has an average rating of “Buy” and an average target price of $126.57.
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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