Schwab Charles Investment Management Inc. grew its position in ServiceNow, Inc. (NYSE:NOW) by 6.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 305,581 shares of the information technology services provider’s stock after buying an additional 18,537 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.18% of ServiceNow worth $35,915,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NOW. Capital World Investors acquired a new position in shares of ServiceNow in the 2nd quarter valued at $259,594,000. Coatue Management LLC acquired a new position in shares of ServiceNow in the 2nd quarter valued at $184,317,000. Capital Research Global Investors acquired a new position in shares of ServiceNow in the 2nd quarter valued at $93,763,000. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 13,985,997 shares of the information technology services provider’s stock valued at $1,482,516,000 after buying an additional 741,341 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of ServiceNow by 59.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,708,100 shares of the information technology services provider’s stock valued at $181,059,000 after buying an additional 635,500 shares during the period.

Shares of ServiceNow, Inc. (NYSE NOW) opened at $121.81 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.66. ServiceNow, Inc. has a 52-week low of $73.66 and a 52-week high of $130.05.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.32 by $0.06. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The firm had revenue of $498.20 million for the quarter, compared to analysts’ expectations of $491.62 million. During the same period in the previous year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 39.3% on a year-over-year basis. sell-side analysts expect that ServiceNow, Inc. will post -0.35 earnings per share for the current year.

NOW has been the topic of several research reports. Northland Securities reaffirmed a “buy” rating and issued a $135.00 price objective on shares of ServiceNow in a research report on Thursday, October 19th. JMP Securities boosted their price objective on shares of ServiceNow from $136.00 to $140.00 and gave the company a “market outperform” rating in a research report on Thursday, October 26th. Robert W. Baird set a $120.00 price objective on shares of ServiceNow and gave the company a “buy” rating in a research report on Friday, October 6th. Summit Redstone reaffirmed a “buy” rating and issued a $135.00 price objective on shares of ServiceNow in a research report on Monday, September 18th. Finally, OTR Global raised shares of ServiceNow to a “positive” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-nine have issued a buy rating and three have issued a strong buy rating to the stock. ServiceNow currently has a consensus rating of “Buy” and a consensus target price of $130.50.

In other news, Director Frederic B. Luddy sold 165,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $116.03, for a total value of $19,144,950.00. Following the sale, the director now directly owns 29,990 shares of the company’s stock, valued at approximately $3,479,739.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO David Schneider sold 16,349 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $124.21, for a total transaction of $2,030,709.29. Following the completion of the sale, the executive now directly owns 67,185 shares in the company, valued at $8,345,048.85. The disclosure for this sale can be found here. Insiders have sold a total of 907,674 shares of company stock worth $109,676,725 over the last three months. Insiders own 3.30% of the company’s stock.

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ServiceNow 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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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