Utah Retirement Systems Buys 1,800 Shares of ServiceNow, Inc. (NOW)
Utah Retirement Systems increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 30,600 shares of the information technology services provider’s stock after buying an additional 1,800 shares during the period. Utah Retirement Systems’ holdings in ServiceNow were worth $3,243,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of NOW. Capstone Asset Management Co. boosted its stake in shares of ServiceNow by 16.3% in the first quarter. Capstone Asset Management Co. now owns 3,782 shares of the information technology services provider’s stock valued at $331,000 after buying an additional 530 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of ServiceNow during the first quarter valued at $175,000. State of Alaska Department of Revenue bought a new stake in shares of ServiceNow during the first quarter valued at $257,000. Candriam Luxembourg S.C.A. boosted its stake in shares of ServiceNow by 30.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 11,221 shares of the information technology services provider’s stock valued at $982,000 after buying an additional 2,624 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of ServiceNow by 0.4% in the first quarter. Nationwide Fund Advisors now owns 135,711 shares of the information technology services provider’s stock valued at $11,871,000 after buying an additional 500 shares during the last quarter.
Shares of ServiceNow, Inc. (NYSE NOW) opened at 111.75 on Wednesday. ServiceNow, Inc. has a 1-year low of $71.34 and a 1-year high of $115.85. The company’s 50-day moving average price is $108.96 and its 200 day moving average price is $98.46. The company’s market cap is $19.08 billion.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $462.11 million. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. The company’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. On average, analysts predict that ServiceNow, Inc. will post $1.17 earnings per share for the current fiscal year.
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Several equities research analysts recently commented on NOW shares. Zacks Investment Research lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Sanford C. Bernstein started coverage on ServiceNow in a research report on Wednesday, May 24th. They set an “outperform” rating and a $120.00 target price on the stock. Stephens started coverage on ServiceNow in a research report on Thursday, May 25th. They set an “overweight” rating and a $120.00 target price on the stock. Royal Bank Of Canada restated a “buy” rating and set a $110.00 target price on shares of ServiceNow in a research report on Monday, May 29th. Finally, ValuEngine upgraded ServiceNow from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Eight research 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. ServiceNow has an average rating of “Buy” and a consensus target price of $115.96.
In other ServiceNow news, insider Michael Scarpelli sold 75,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.68, for a total value of $8,076,000.00. Following the transaction, the insider now directly owns 252,368 shares in the company, valued at approximately $27,174,986.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederic B. Luddy sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $110.17, for a total transaction of $11,017,000.00. Following the completion of the transaction, the director now owns 29,990 shares in the company, valued at $3,303,998.30. The disclosure for this sale can be found here. Insiders have sold 945,853 shares of company stock valued at $102,413,366 in the last three months. Corporate insiders own 3.30% of the company’s stock.
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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