ServiceNow Inc. (NOW) Stake Boosted by Delta Lloyd NV
Delta Lloyd NV boosted its position in ServiceNow Inc. (NYSE:NOW) by 22.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,863 shares of the company’s stock after buying an additional 4,384 shares during the period. Delta Lloyd NV’s holdings in ServiceNow were worth $1,889,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. TIAA CREF Investment Management LLC increased its stake in shares of ServiceNow by 32.3% in the second quarter. TIAA CREF Investment Management LLC now owns 2,743,103 shares of the company’s stock worth $182,142,000 after buying an additional 668,994 shares during the period. 1832 Asset Management L.P. purchased a new stake in shares of ServiceNow during the second quarter worth about $42,700,000. Vanguard Group Inc. increased its stake in shares of ServiceNow by 5.3% in the second quarter. Vanguard Group Inc. now owns 11,348,960 shares of the company’s stock worth $753,572,000 after buying an additional 570,656 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of ServiceNow during the second quarter worth about $30,979,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of ServiceNow by 1,269.6% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 482,691 shares of the company’s stock worth $38,204,000 after buying an additional 447,447 shares during the period. 98.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ServiceNow Inc. (NYSE:NOW) traded down 1.65% on Tuesday, reaching $83.42. 1,562,207 shares of the company were exchanged. ServiceNow Inc. has a 1-year low of $46.00 and a 1-year high of $91.28. The company has a 50-day moving average price of $82.60 and a 200 day moving average price of $75.61. The stock’s market capitalization is $13.85 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. ServiceNow had a negative net margin of 35.38% and a negative return on equity of 38.73%. The company earned $357.66 million during the quarter, compared to the consensus estimate of $352.16 million. During the same quarter in the prior year, the company posted $0.16 EPS. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. On average, analysts forecast that ServiceNow Inc. will post $0.70 EPS for the current fiscal year.
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NOW has been the topic of a number of recent analyst reports. OTR Global cut shares of ServiceNow to a “positive” rating in a research report on Wednesday, October 12th. Cowen and Company set a $100.00 price objective on shares of ServiceNow and gave the stock a “buy” rating in a research report on Thursday, October 27th. Zacks Investment Research cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Mizuho upped their price objective on shares of ServiceNow from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, October 27th. Finally, DA Davidson set a $102.00 price objective on shares of ServiceNow and gave the stock a “buy” rating in a research report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $85.93.
In related news, Director Frederic B. Luddy sold 20,539 shares of the stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $86.19, for a total transaction of $1,770,256.41. Following the completion of the sale, the director now owns 1,887 shares of the company’s stock, valued at approximately $162,640.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Frederic B. Luddy sold 199,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $76.68, for a total transaction of $15,259,320.00. Following the sale, the insider now directly owns 1,587 shares of the company’s stock, valued at approximately $121,691.16. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.
ServiceNow Company Profile
ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
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