ServiceNow Inc (NOW) Position Reduced by Ardsley Advisory Partners
Ardsley Advisory Partners cut its stake in ServiceNow Inc (NYSE:NOW) by 86.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the information technology services provider’s stock after selling 64,000 shares during the period. Ardsley Advisory Partners’ holdings in ServiceNow were worth $1,306,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in NOW. American Century Companies Inc. boosted its stake in ServiceNow by 162.5% in the 4th quarter. American Century Companies Inc. now owns 1,771,319 shares of the information technology services provider’s stock worth $230,962,000 after purchasing an additional 1,096,491 shares in the last quarter. Sands Capital Management LLC boosted its stake in ServiceNow by 5.6% in the 4th quarter. Sands Capital Management LLC now owns 8,070,993 shares of the information technology services provider’s stock worth $1,052,377,000 after purchasing an additional 426,311 shares in the last quarter. Ardevora Asset Management LLP acquired a new stake in ServiceNow in the 3rd quarter worth approximately $39,255,000. Two Sigma Advisers LP boosted its stake in ServiceNow by 34.7% in the 4th quarter. Two Sigma Advisers LP now owns 973,243 shares of the information technology services provider’s stock worth $126,901,000 after purchasing an additional 250,748 shares in the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new stake in ServiceNow in the 4th quarter worth approximately $27,401,000.
A number of research firms recently commented on NOW. UBS Group reiterated a “buy” rating and issued a $180.00 target price (up from $168.00) on shares of ServiceNow in a research note on Thursday, February 1st. They noted that the move was a valuation call. Canaccord Genuity reiterated a “buy” rating and issued a $175.00 target price (up from $150.00) on shares of ServiceNow in a research note on Thursday, February 1st. Barclays lifted their price objective on shares of ServiceNow from $150.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Credit Suisse Group restated an “in-line” rating and set a $165.00 price objective (up from $160.00) on shares of ServiceNow in a research note on Thursday, February 1st. Finally, Royal Bank of Canada restated a “buy” rating and set a $160.00 price objective on shares of ServiceNow in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. ServiceNow has an average rating of “Buy” and a consensus target price of $149.72.
ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $546.37 million during the quarter, compared to analyst estimates of $532.74 million. ServiceNow had a negative net margin of 7.71% and a negative return on equity of 23.78%. The business’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. sell-side analysts anticipate that ServiceNow Inc will post 0.1 earnings per share for the current year.
In related news, Director Anita M. Sands sold 1,636 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $150.51, for a total value of $246,234.36. Following the completion of the sale, the director now owns 12,704 shares of the company’s stock, valued at approximately $1,912,079.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 170,000 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $129.43, for a total transaction of $22,003,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 627,808 shares of company stock valued at $90,184,123. 3.30% of the stock is owned by insiders.
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ServiceNow Company 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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