Chicago Equity Partners LLC Invests $467,000 in ServiceNow, Inc. (NOW)
Chicago Equity Partners LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,410 shares of the information technology services provider’s stock, valued at approximately $467,000.
Several other large investors have also added to or reduced their stakes in NOW. Capstone Asset Management Co. grew its position in shares of ServiceNow by 16.3% during the first quarter. Capstone Asset Management Co. now owns 3,782 shares of the information technology services provider’s stock worth $331,000 after purchasing an additional 530 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of ServiceNow during the first quarter worth about $175,000. Waldron LP purchased a new stake in shares of ServiceNow during the first quarter worth about $429,000. Profund Advisors LLC purchased a new stake in shares of ServiceNow during the first quarter worth about $221,000. Finally, ProShare Advisors LLC grew its position in shares of ServiceNow by 10.8% during the first quarter. ProShare Advisors LLC now owns 3,897 shares of the information technology services provider’s stock worth $341,000 after purchasing an additional 379 shares in the last quarter.
Several research firms recently issued reports on NOW. Robert W. Baird reiterated a “buy” rating and set a $120.00 target price on shares of ServiceNow in a research report on Friday, September 1st. Moffett Nathanson began coverage on ServiceNow in a report on Wednesday, September 6th. They set a “buy” rating for the company. Credit Suisse Group began coverage on ServiceNow in a report on Tuesday, September 5th. They set an “outperform” rating and a $135.00 price target for the company. OTR Global cut ServiceNow to a “positive” rating in a report on Friday, July 14th. Finally, Guggenheim restated a “buy” rating and set a $120.00 price target (up previously from $108.00) on shares of ServiceNow in a report on Thursday, July 27th. Eight investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company. ServiceNow presently has an average rating of “Buy” and a consensus target price of $117.40.
In related news, CRO David Schneider sold 16,349 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $107.25, for a total value of $1,753,430.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 102,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $110.09, for a total value of $11,229,180.00. Following the completion of the transaction, the director now owns 11,190 shares of the company’s stock, valued at $1,231,907.10. The disclosure for this sale can be found here. Insiders sold 928,853 shares of company stock valued at $101,627,586 over the last quarter. 3.30% of the stock is currently owned by company insiders.
Shares of ServiceNow, Inc. (NYSE NOW) opened at 116.26 on Wednesday. ServiceNow, Inc. has a 52 week low of $71.34 and a 52 week high of $118.64. The company’s 50 day moving average price is $110.53 and its 200-day moving average price is $100.21. The company’s market capitalization is $19.85 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 for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $471.70 million during the quarter, compared to analyst estimates of $462.11 million. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The firm’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. Analysts anticipate that ServiceNow, Inc. will post $1.17 earnings per share for the current fiscal 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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