AXA cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,247 shares of the information technology services provider’s stock after selling 13,400 shares during the period. AXA owned about 0.11% of ServiceNow worth $19,424,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Allen Investment Management LLC bought a new stake in shares of ServiceNow in the second quarter worth about $45,372,000. Swiss National Bank increased its holdings in shares of ServiceNow by 3.1% in the second quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock worth $64,300,000 after purchasing an additional 18,200 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of ServiceNow by 29.0% in the first quarter. Teachers Advisors LLC now owns 698,964 shares of the information technology services provider’s stock worth $61,138,000 after purchasing an additional 157,079 shares during the last quarter. Vista Equity Partners Management LLC increased its holdings in shares of ServiceNow by 27.4% in the first quarter. Vista Equity Partners Management LLC now owns 68,743 shares of the information technology services provider’s stock worth $6,013,000 after purchasing an additional 14,772 shares during the last quarter. Finally, Utah Retirement Systems increased its stake in ServiceNow by 6.3% during the second quarter. Utah Retirement Systems now owns 30,600 shares of the information technology services provider’s stock worth $3,243,000 after acquiring an additional 1,800 shares during the last quarter.
In related news, CRO David Schneider sold 16,349 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $107.25, for a total transaction of $1,753,430.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $104.09, for a total transaction of $15,613,500.00. Following the sale, the director now owns 356,287 shares of the company’s stock, valued at $37,085,913.83. The disclosure for this sale can be found here. Insiders sold a total of 1,176,353 shares of company stock worth $130,353,261 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.
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Shares of ServiceNow, Inc. (NYSE NOW) traded up 0.13% on Friday, reaching $116.11. 1,001,619 shares of the company were exchanged. The stock has a 50 day moving average of $111.34 and a 200-day moving average of $100.82. The company’s market capitalization is $19.82 billion. ServiceNow, Inc. has a 52-week low of $72.80 and a 52-week high of $118.64.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $462.11 million. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. ServiceNow’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS. On average, analysts predict that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.
Several brokerages have weighed in on NOW. BidaskClub cut ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Seaport Global Securities lowered ServiceNow from a “buy” rating to a “neutral” rating in a report on Wednesday, June 21st. BMO Capital Markets boosted their price target on ServiceNow from $110.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Raymond James Financial, Inc. boosted their price target on ServiceNow from $110.00 to $126.00 and gave the company a “strong-buy” rating in a report on Thursday, July 27th. Finally, JMP Securities reiterated an “outperform” rating on shares of ServiceNow in a report on Thursday, July 27th. Eight equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $117.40.
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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