Victory Capital Management Inc. raised its stake in ServiceNow, Inc. (NYSE:NOW) by 203.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 493,243 shares of the information technology services provider’s stock after purchasing an additional 330,883 shares during the period. Victory Capital Management Inc. owned 0.29% of ServiceNow worth $57,971,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of NOW. Cornerstone Advisors Inc. increased its stake in ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after purchasing an additional 245 shares in the last quarter. Barrett Asset Management LLC acquired a new position in shares of ServiceNow during the second quarter valued at about $117,000. SeaBridge Investment Advisors LLC acquired a new position in shares of ServiceNow during the third quarter valued at about $118,000. Rockefeller Financial Services Inc. acquired a new position in shares of ServiceNow during the third quarter valued at about $138,000. Finally, Crow Point Partners LLC grew its holdings in shares of ServiceNow by 8.8% during the second 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.
Shares of ServiceNow, Inc. (NYSE NOW) opened at $124.91 on Friday. ServiceNow, Inc. has a 12-month low of $72.80 and a 12-month high of $129.56. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.73 and a current ratio of 1.73.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $491.62 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. equities research analysts expect that ServiceNow, Inc. will post -0.35 EPS for the current year.
In related news, CRO David Schneider sold 16,349 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Scarpelli sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total transaction of $8,076,000.00. Following the sale, the insider now directly owns 252,368 shares in the company, valued at approximately $27,174,986.24. The disclosure for this sale can be found here. In the last three months, insiders sold 1,070,142 shares of company stock worth $124,815,242. Insiders own 3.30% of the company’s stock.
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NOW has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. OTR Global cut shares of ServiceNow to a “positive” rating in a report on Friday, July 14th. Morgan Stanley reiterated an “overweight” rating and set a $134.00 price objective (up from $124.00) on shares of ServiceNow in a report on Thursday, July 20th. Citigroup Inc. reiterated a “buy” rating and set a $135.00 price objective (up from $109.00) on shares of ServiceNow in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada lifted their price objective on shares of ServiceNow from $110.00 to $126.00 and gave the company a “top pick” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-nine have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target 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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