ARK Investment Management LLC Sells 6,057 Shares of ServiceNow Inc (NOW)
ARK Investment Management LLC lessened its stake in shares of ServiceNow Inc (NYSE:NOW) by 14.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,461 shares of the information technology services provider’s stock after selling 6,057 shares during the quarter. ARK Investment Management LLC’s holdings in ServiceNow were worth $6,288,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. CAPROCK Group Inc. acquired a new position in shares of ServiceNow in the second quarter worth about $266,000. Mn Services Vermogensbeheer B.V. lifted its stake in shares of ServiceNow by 2.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 27,151 shares of the information technology services provider’s stock worth $4,492,000 after acquiring an additional 700 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of ServiceNow by 1.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,771 shares of the information technology services provider’s stock worth $9,964,000 after acquiring an additional 752 shares in the last quarter. LPL Financial LLC lifted its stake in shares of ServiceNow by 9.2% in the first quarter. LPL Financial LLC now owns 5,273 shares of the information technology services provider’s stock worth $872,000 after acquiring an additional 444 shares in the last quarter. Finally, Macguire Cheswick & Tuttle Investment Counsel LLC lifted its stake in shares of ServiceNow by 4.8% in the second quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 6,505 shares of the information technology services provider’s stock worth $1,122,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 96.59% of the company’s stock.
Several research analysts recently commented on NOW shares. Barclays boosted their price target on ServiceNow from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Thursday, July 12th. Mizuho reiterated a “buy” rating and issued a $190.00 price target on shares of ServiceNow in a research note on Friday, April 20th. Deutsche Bank boosted their price target on ServiceNow to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 31st. Citigroup boosted their price target on ServiceNow to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 3rd. Finally, ValuEngine raised ServiceNow from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $195.58.
Shares of ServiceNow stock opened at $185.02 on Tuesday. The stock has a market capitalization of $33.36 billion, a P/E ratio of -176.21, a PEG ratio of 44.51 and a beta of 1.14. ServiceNow Inc has a fifty-two week low of $106.28 and a fifty-two week high of $194.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.19.
ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The company had revenue of $631.05 million during the quarter, compared to analyst estimates of $616.68 million. ServiceNow had a negative return on equity of 7.48% and a negative net margin of 4.16%. The business’s revenue was up 40.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. equities research analysts anticipate that ServiceNow Inc will post 0.16 earnings per share for the current fiscal year.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.
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