ServiceNow, Inc. (NOW) Shares Bought by Eagle Asset Management Inc.
Eagle Asset Management Inc. grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 33.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 245,204 shares of the information technology services provider’s stock after acquiring an additional 61,172 shares during the period. Eagle Asset Management Inc. owned about 0.14% of ServiceNow worth $25,991,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of NOW. Cornerstone Advisors Inc. raised its stake in shares of ServiceNow by 29.2% during the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after acquiring an additional 245 shares in the last quarter. Barrett Asset Management LLC purchased a new position in ServiceNow during the second quarter valued at approximately $117,000. Global X Management Co. LLC increased its holdings in ServiceNow by 30.6% during the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 330 shares during the period. TLP Group LLC purchased a new position in ServiceNow during the first quarter valued at approximately $131,000. Finally, Crow Point Partners LLC increased its holdings in ServiceNow by 8.8% during 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.
NOW has been the topic of several research reports. BidaskClub lowered shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Robert W. Baird reissued a “buy” rating and set a $120.00 price objective on shares of ServiceNow in a report on Friday. ValuEngine raised shares of ServiceNow from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Sanford C. Bernstein initiated coverage on shares of ServiceNow in a report on Wednesday, May 24th. They set an “outperform” rating and a $120.00 price objective on the stock. Finally, Morgan Stanley reissued an “overweight” rating and set a $134.00 price objective (up from $124.00) on shares of ServiceNow in a report on Thursday, July 20th. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $116.67.
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In other news, CRO David Schneider sold 16,349 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $107.25, for a total value of $1,753,430.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederic B. Luddy sold 167,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $108.34, for a total transaction of $18,092,780.00. Following the completion of the sale, the director now owns 11,190 shares of the company’s stock, valued at approximately $1,212,324.60. The disclosure for this sale can be found here. Insiders have sold a total of 945,853 shares of company stock worth $102,413,366 over the last three months. 3.30% of the stock is currently owned by insiders.
ServiceNow, Inc. (NOW) opened at 115.49 on Monday. ServiceNow, Inc. has a 52-week low of $71.34 and a 52-week high of $116.54. The company’s 50-day moving average is $109.59 and its 200-day moving average is $99.27. The firm’s market capitalization is $19.72 billion.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. The company had revenue of $471.70 million for the quarter, compared to the consensus estimate of $462.11 million. During the same period last year, the firm posted $0.15 EPS. ServiceNow’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, analysts predict that ServiceNow, Inc. will post $1.17 EPS for the current year.
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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