Investec Asset Management LTD acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 46,621 shares of the information technology services provider’s stock, valued at approximately $4,942,000.

Several other hedge funds also recently modified their holdings of the stock. Artisan Partners Limited Partnership raised its stake in shares of ServiceNow by 1.6% in the 2nd quarter. Artisan Partners Limited Partnership now owns 283,884 shares of the information technology services provider’s stock valued at $30,092,000 after acquiring an additional 4,571 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in shares of ServiceNow by 6.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 200,538 shares of the information technology services provider’s stock valued at $21,257,000 after acquiring an additional 11,440 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of ServiceNow by 21.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 39,613 shares of the information technology services provider’s stock valued at $4,201,000 after acquiring an additional 6,895 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of ServiceNow by 59.3% in the 2nd quarter. ProShare Advisors LLC now owns 6,207 shares of the information technology services provider’s stock valued at $658,000 after acquiring an additional 2,310 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in shares of ServiceNow by 34.0% in the 2nd quarter. Profund Advisors LLC now owns 3,392 shares of the information technology services provider’s stock valued at $360,000 after acquiring an additional 861 shares in the last quarter.

Shares of ServiceNow, Inc. (NOW) opened at 116.47 on Wednesday. ServiceNow, Inc. has a 52 week low of $72.80 and a 52 week high of $118.64. The firm’s market cap is $19.88 billion. The company has a 50-day moving average price of $111.66 and a 200 day moving average price of $101.44.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, topping the Zacks’ 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 analyst estimates of $462.11 million. During the same quarter last year, the company earned $0.15 EPS. The company’s revenue was up 38.2% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.

A number of research analysts recently weighed in on the company. Stephens assumed coverage on ServiceNow in a research note on Thursday, May 25th. They issued an “overweight” rating and a $120.00 price objective on the stock. Barclays PLC raised their price objective on ServiceNow from $120.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Canaccord Genuity reissued a “buy” rating and issued a $130.00 price objective (up from $110.00) on shares of ServiceNow in a research note on Thursday, July 27th. Raymond James Financial, Inc. raised their price objective on ServiceNow from $110.00 to $126.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada raised their price objective on ServiceNow from $110.00 to $126.00 and gave the company a “top pick” rating in a research note on Monday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $118.08.

In other ServiceNow news, Director Frederic B. Luddy sold 82,500 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $116.13, for a total transaction of $9,580,725.00. Following the transaction, the director now owns 29,990 shares in the company, valued at approximately $3,482,738.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Scarpelli sold 75,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total value of $8,076,000.00. Following the transaction, the insider now owns 252,368 shares in the company, valued at approximately $27,174,986.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,176,353 shares of company stock worth $130,353,261. Corporate insiders own 3.30% of the company’s stock.

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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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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