Bamco Inc. NY Has $7.71 Million Stake in ServiceNow, Inc. (NOW)
Bamco Inc. NY cut its stake in ServiceNow, Inc. (NYSE:NOW) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,585 shares of the information technology services provider’s stock after selling 3,385 shares during the quarter. Bamco Inc. NY’s holdings in ServiceNow were worth $7,708,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Swiss National Bank grew its stake in ServiceNow by 3.1% during the 2nd quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock worth $64,300,000 after buying an additional 18,200 shares during the last quarter. Allen Investment Management LLC purchased a new position in ServiceNow during the 2nd quarter worth $45,372,000. Rockefeller Financial Services Inc. purchased a new position in ServiceNow during the 3rd quarter worth $138,000. Utah Retirement Systems grew its stake in ServiceNow by 6.3% during the 2nd quarter. Utah Retirement Systems now owns 30,600 shares of the information technology services provider’s stock worth $3,243,000 after buying an additional 1,800 shares during the last quarter. Finally, British Airways Pensions Investment Management Ltd grew its stake in ServiceNow by 84.5% during the 3rd quarter. British Airways Pensions Investment Management Ltd now owns 218,243 shares of the information technology services provider’s stock worth $25,643,000 after buying an additional 99,938 shares during the last quarter.
In other ServiceNow news, Director Frank Slootman sold 150,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $117.17, for a total value of $17,575,500.00. Following the sale, the director now directly owns 216,535 shares in the company, valued at $25,371,405.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO David Schneider sold 16,349 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $124.21, for a total value of $2,030,709.29. Following the completion of the sale, the executive now owns 67,185 shares in the company, valued at $8,345,048.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 660,174 shares of company stock worth $80,951,050. Insiders own 3.30% of the company’s stock.
ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The company had revenue of $498.20 million for the quarter, compared to analysts’ expectations of $491.62 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue was up 39.3% compared to the same quarter last year. analysts anticipate that ServiceNow, Inc. will post -0.35 EPS for the current fiscal year.
Several analysts have weighed in on the company. Argus reiterated a “buy” rating and set a $150.00 price target (up previously from $125.00) on shares of ServiceNow in a research note on Friday, October 27th. Bank of America boosted their price target on ServiceNow from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research downgraded ServiceNow from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. UBS boosted their price objective on ServiceNow from $128.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Finally, Piper Jaffray Companies raised ServiceNow from a “neutral” rating to an “overweight” rating in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-eight have assigned a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $132.17.
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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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