Rosenblum Silverman Sutton S F Inc. CA grew its stake in ServiceNow Inc (NYSE:NOW) by 42.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,950 shares of the information technology services provider’s stock after purchasing an additional 2,680 shares during the period. Rosenblum Silverman Sutton S F Inc. CA’s holdings in ServiceNow were worth $2,457,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in NOW. Geneva Partners LLC raised its stake in shares of ServiceNow by 7.8% during the 2nd quarter. Geneva Partners LLC now owns 10,990 shares of the information technology services provider’s stock worth $3,018,000 after buying an additional 795 shares during the period. Advisor Group Inc. raised its stake in shares of ServiceNow by 10.8% during the 2nd quarter. Advisor Group Inc. now owns 7,030 shares of the information technology services provider’s stock worth $1,929,000 after buying an additional 687 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in shares of ServiceNow during the 2nd quarter worth approximately $52,000. Aperio Group LLC raised its stake in shares of ServiceNow by 5.9% during the 2nd quarter. Aperio Group LLC now owns 85,284 shares of the information technology services provider’s stock worth $23,417,000 after buying an additional 4,742 shares during the period. Finally, Great Valley Advisor Group Inc. acquired a new position in shares of ServiceNow during the 2nd quarter worth approximately $234,000. Institutional investors and hedge funds own 92.95% of the company’s stock.
NOW has been the subject of several research analyst reports. Raymond James upped their target price on ServiceNow from $340.00 to $342.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Zacks Investment Research raised ServiceNow from a “hold” rating to a “buy” rating and set a $299.00 target price for the company in a research note on Tuesday, April 30th. Jefferies Financial Group upped their target price on ServiceNow from $285.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price objective on ServiceNow from $285.00 to $300.00 and gave the company a “top pick” rating in a research note on Monday, July 22nd. Finally, UBS Group increased their price objective on ServiceNow to $332.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $287.86.
ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The business had revenue of $833.90 million during the quarter, compared to the consensus estimate of $831.50 million. During the same period last year, the company earned $0.49 EPS. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, sell-side analysts predict that ServiceNow Inc will post 0.43 EPS for the current year.
In other news, Director Frederic B. Luddy sold 22,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $277.57, for a total transaction of $6,106,540.00. Following the completion of the transaction, the director now directly owns 1,770 shares in the company, valued at approximately $491,298.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Scarpelli sold 25,899 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $278.41, for a total value of $7,210,540.59. Following the transaction, the insider now owns 37,071 shares of the company’s stock, valued at $10,320,937.11. The disclosure for this sale can be found here. Insiders sold a total of 95,474 shares of company stock valued at $26,822,916 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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