ServiceNow Inc. (NOW) Stake Raised by US Bancorp DE
US Bancorp DE increased its position in shares of ServiceNow Inc. (NYSE:NOW) by 18.3% during the third quarter, Holdings Channel reports. The firm owned 120,967 shares of the company’s stock after buying an additional 18,731 shares during the period. US Bancorp DE’s holdings in ServiceNow were worth $9,575,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank raised its position in shares of ServiceNow by 58.9% in the third quarter. Toronto Dominion Bank now owns 1,405 shares of the company’s stock worth $111,000 after buying an additional 521 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of ServiceNow during the third quarter worth approximately $149,000. Mizuho Asset Management Co. Ltd. increased its position in shares of ServiceNow by 162.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock worth $151,000 after buying an additional 1,406 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of ServiceNow by 343.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,379 shares of the company’s stock worth $158,000 after buying an additional 1,843 shares in the last quarter. Finally, BlueMountain Capital Management LLC acquired a new position in shares of ServiceNow during the second quarter worth approximately $177,000. Institutional investors own 98.64% of the company’s stock.
Shares of ServiceNow Inc. (NYSE:NOW) traded down 0.36% during mid-day trading on Wednesday, hitting $83.12. 736,660 shares of the stock were exchanged. ServiceNow Inc. has a 1-year low of $46.00 and a 1-year high of $91.28. The firm’s market cap is $13.80 billion. The company’s 50-day moving average is $82.60 and its 200-day moving average is $75.61.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. ServiceNow had a negative return on equity of 38.73% and a negative net margin of 35.38%. The business had revenue of $357.66 million for the quarter, compared to the consensus estimate of $352.16 million. During the same period in the prior year, the business posted $0.16 earnings per share. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow Inc. will post $0.70 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the stock. MKM Partners reissued a “neutral” rating on shares of ServiceNow in a research note on Friday, November 4th. Cowen and Company set a $100.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research note on Thursday, October 27th. DA Davidson set a $102.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research note on Thursday, October 27th. BMO Capital Markets raised shares of ServiceNow from a “market perform” rating to an “outperform” rating and raised their target price for the company from $85.00 to $97.00 in a research note on Thursday, October 27th. Finally, Wunderlich raised their target price on shares of ServiceNow from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, October 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $85.93.
In other news, Director Frederic B. Luddy sold 20,539 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $86.19, for a total value of $1,770,256.41. Following the sale, the director now directly owns 1,887 shares in the company, valued at $162,640.53. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CRO David Schneider sold 3,627 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $84.47, for a total value of $306,372.69. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.
ServiceNow Company Profile
ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
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