Neuberger Berman Group LLC raised its holdings in ServiceNow Inc (NYSE:NOW) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 234,855 shares of the information technology services provider’s stock after buying an additional 1,252 shares during the quarter. Neuberger Berman Group LLC owned about 0.14% of ServiceNow worth $27,603,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its stake in shares of ServiceNow by 6.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 305,581 shares of the information technology services provider’s stock valued at $35,915,000 after purchasing an additional 18,537 shares during the period. Swiss National Bank lifted its stake in shares of 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 purchasing an additional 18,200 shares during the period. Allen Investment Management LLC purchased a new position in shares of ServiceNow in the 2nd quarter valued at approximately $45,372,000. Investec Asset Management LTD lifted its stake in shares of ServiceNow by 42.9% in the 3rd quarter. Investec Asset Management LTD now owns 66,635 shares of the information technology services provider’s stock valued at $7,832,000 after purchasing an additional 20,014 shares during the period. Finally, Jasper Ridge Partners L.P. purchased a new position in shares of ServiceNow in the 3rd quarter valued at approximately $1,525,000.
A number of research analysts have recently commented on the company. Robert W. Baird set a $120.00 target price on ServiceNow and gave the company a “buy” rating in a research note on Friday, October 6th. Stifel Nicolaus raised their target price on ServiceNow from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. BMO Capital Markets reiterated a “buy” rating and set a $127.00 price objective on shares of ServiceNow in a research note on Friday, October 13th. OTR Global upgraded ServiceNow to a “positive” rating in a research note on Wednesday, October 18th. Finally, Deutsche Bank lifted their price objective on ServiceNow from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-eight have issued a buy rating and three have assigned a strong buy rating to the company. ServiceNow presently has an average rating of “Buy” and an average target price of $132.17.
Shares of ServiceNow Inc (NYSE:NOW) traded up $0.61 on Friday, hitting $138.19. The company had a trading volume of 1,199,659 shares, compared to its average volume of 1,660,000. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.10. ServiceNow Inc has a one year low of $80.91 and a one year high of $139.06. The company has a market capitalization of $23,590.00, a price-to-earnings ratio of -151.86 and a beta of 1.06.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The company had revenue of $498.20 million during the quarter, compared to analyst estimates of $491.62 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. ServiceNow’s revenue was up 39.3% compared to the same quarter last year. research analysts anticipate that ServiceNow Inc will post -0.35 earnings per share for the current fiscal year.
In other ServiceNow news, Director Frank Slootman sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $125.96, for a total transaction of $18,894,000.00. Following the completion of the sale, the director now owns 216,535 shares of the company’s stock, valued at $27,274,748.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $2,030,709.29. Following the sale, the executive now directly owns 67,185 shares of the company’s stock, valued at approximately $8,345,048.85. The disclosure for this sale can be found here. Insiders sold 630,174 shares of company stock valued at $80,823,650 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.
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ServiceNow Company Profile
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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