440 Investment Group LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,000 shares of the information technology services provider’s stock, valued at approximately $636,000.

Other hedge funds have also recently added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its stake in ServiceNow by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock valued at $184,000 after buying an additional 61 shares during the period. Nordea Investment Management AB boosted its stake in ServiceNow by 2.5% in the first quarter. Nordea Investment Management AB now owns 3,567 shares of the information technology services provider’s stock valued at $312,000 after buying an additional 88 shares during the period. Janney Montgomery Scott LLC boosted its stake in ServiceNow by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 6,794 shares of the information technology services provider’s stock valued at $594,000 after buying an additional 93 shares during the period. Crow Point Partners LLC boosted its stake in ServiceNow by 8.8% in 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 period. Finally, Pacer Advisors Inc. boosted its stake in ServiceNow by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,501 shares of the information technology services provider’s stock valued at $306,000 after buying an additional 110 shares during the period. Institutional investors own 97.53% of the company’s stock.

ServiceNow, Inc. (NOW) opened at 106.05 on Friday. The company’s market cap is $18.10 billion. ServiceNow, Inc. has a 52 week low of $71.25 and a 52 week high of $115.85. The firm has a 50-day moving average price of $108.29 and a 200-day moving average price of $97.03.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The firm had revenue of $471.70 million for the quarter, compared to the consensus estimate of $462.11 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.

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Several brokerages recently commented on NOW. UBS AG reiterated a “buy” rating and issued a $110.00 target price (up from $101.00) on shares of ServiceNow in a report on Friday, April 28th. BidaskClub cut ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. FBN Securities upped their target price on ServiceNow from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Stifel Nicolaus upped their target price on ServiceNow from $90.00 to $93.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Deutsche Bank AG upped their target price on ServiceNow from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, April 28th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $115.96.

In related news, CRO David Schneider sold 6,430 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $99.50, for a total value of $639,785.00. Following the transaction, the executive now owns 33,466 shares of the company’s stock, valued at $3,329,867. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 167,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $108.34, for a total value of $18,092,780.00. Following the completion of the transaction, the director now directly owns 11,190 shares in the company, valued at approximately $1,212,324.60. The disclosure for this sale can be found here. In the last three months, insiders sold 763,177 shares of company stock worth $82,424,382. 3.30% of the stock is owned by insiders.

About ServiceNow

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.

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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