Monetta Financial Services Inc. purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,000 shares of the information technology services provider’s stock, valued at approximately $1,175,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. SeaBridge Investment Advisors LLC bought a new stake in shares of ServiceNow during the 3rd quarter worth $118,000. Barrett Asset Management LLC bought a new stake in shares of ServiceNow during the 2nd quarter worth $117,000. Rockefeller Financial Services Inc. bought a new stake in shares of ServiceNow during the 3rd quarter worth $138,000. Commonwealth Bank of Australia boosted its holdings in shares of ServiceNow by 5.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock worth $159,000 after buying an additional 83 shares during the period. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of ServiceNow during the 2nd quarter worth $212,000.
Shares of ServiceNow, Inc. (NYSE:NOW) traded up $1.56 during trading on Thursday, hitting $117.76. 1,658,000 shares of the company were exchanged, compared to its average volume of 1,588,945. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.10. ServiceNow, Inc. has a 1-year low of $73.66 and a 1-year high of $130.05.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. The business had revenue of $498.20 million during the quarter, compared to analysts’ expectations of $491.62 million. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same quarter last year, the company posted $0.23 EPS. equities research analysts forecast that ServiceNow, Inc. will post -0.35 EPS for the current fiscal year.
Several analysts recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of ServiceNow in a report on Tuesday, September 5th. They set an “outperform” rating and a $135.00 price objective for the company. Robert W. Baird set a $120.00 price objective on shares of ServiceNow and gave the stock a “buy” rating in a report on Friday, October 6th. BMO Capital Markets reaffirmed a “buy” rating and set a $127.00 price objective on shares of ServiceNow in a report on Friday, October 13th. Stifel Nicolaus upped their price objective on shares of ServiceNow from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, OTR Global raised shares of ServiceNow to a “positive” rating in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have assigned a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $130.50.
In other ServiceNow news, Director Frederic B. Luddy sold 165,000 shares of the firm’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 completion of the sale, the director now owns 29,990 shares in the company, valued at approximately $3,479,739.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO David Schneider sold 16,349 shares of the firm’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 owns 67,185 shares of the company’s stock, valued at approximately $8,345,048.85. The disclosure for this sale can be found here. Insiders sold a total of 907,674 shares of company stock valued at $109,676,725 in the last 90 days. Corporate insiders own 3.30% of the company’s stock.
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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