Verde Servicos Internacionais S.A. Increases Holdings in ServiceNow, Inc. (NOW)
Verde Servicos Internacionais S.A. raised its position in ServiceNow, Inc. (NYSE:NOW) by 75.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 10,263 shares of the information technology services provider’s stock after purchasing an additional 4,419 shares during the period. Verde Servicos Internacionais S.A.’s holdings in ServiceNow were worth $1,206,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Swiss National Bank lifted its holdings in ServiceNow by 3.1% in the 2nd quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock valued at $64,300,000 after purchasing an additional 18,200 shares in the last quarter. Allen Investment Management LLC purchased a new position in ServiceNow in the 2nd quarter valued at $45,372,000. Utah Retirement Systems lifted its holdings in ServiceNow by 6.3% in the 2nd quarter. Utah Retirement Systems now owns 30,600 shares of the information technology services provider’s stock valued at $3,243,000 after purchasing an additional 1,800 shares in the last quarter. Teachers Advisors LLC lifted its holdings in ServiceNow by 29.0% in the 1st quarter. Teachers Advisors LLC now owns 698,964 shares of the information technology services provider’s stock valued at $61,138,000 after purchasing an additional 157,079 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its holdings in ServiceNow by 29.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after purchasing an additional 245 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.
In other ServiceNow news, insider Michael Scarpelli sold 75,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total transaction of $8,076,000.00. Following the completion of the sale, the insider now directly owns 252,368 shares in the company, valued at $27,174,986.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO David Schneider sold 16,349 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $107.25, for a total value of $1,753,430.25. The disclosure for this sale can be found here. Insiders have sold 1,172,353 shares of company stock valued at $133,460,161 over the last 90 days. 3.30% of the stock is currently owned by insiders.
A number of research analysts have weighed in on the company. Northland Securities restated a “buy” rating and issued a $135.00 price objective on shares of ServiceNow in a report on Thursday. Deutsche Bank AG raised their price objective on ServiceNow from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday. OTR Global upgraded ServiceNow to a “positive” rating in a report on Wednesday. Mizuho restated a “buy” rating on shares of ServiceNow in a report on Monday. Finally, BMO Capital Markets restated a “buy” rating and issued a $127.00 price objective on shares of ServiceNow in a report on Friday, October 13th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $120.35.
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ServiceNow, Inc. (NYSE:NOW) traded up 3.141% during trading on Friday, reaching $124.605. The company’s stock had a trading volume of 1,436,265 shares. ServiceNow, Inc. has a 1-year low of $72.80 and a 1-year high of $124.75. The company’s market capitalization is $21.27 billion. The company’s 50-day moving average is $117.66 and its 200-day moving average is $106.20.
ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, topping the Thomson Reuters’ 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 was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. Equities analysts anticipate 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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