Driehaus Capital Management LLC acquired a new position in shares of ServiceNow Inc (NYSE:NOW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,222 shares of the information technology services provider’s stock, valued at approximately $1,072,000.
A number of other large investors have also recently made changes to their positions in the business. Thames Capital Management LLC bought a new stake in ServiceNow during the 4th quarter worth about $6,917,000. Nippon Life Global Investors Americas Inc. bought a new stake in shares of ServiceNow in the 4th quarter valued at about $1,621,000. Pitcairn Co. increased its stake in shares of ServiceNow by 24.5% in the 4th quarter. Pitcairn Co. now owns 12,368 shares of the information technology services provider’s stock valued at $1,613,000 after acquiring an additional 2,434 shares during the last quarter. Columbus Hill Capital Management L.P. increased its stake in shares of ServiceNow by 19.2% in the 4th quarter. Columbus Hill Capital Management L.P. now owns 354,513 shares of the information technology services provider’s stock valued at $46,225,000 after acquiring an additional 57,000 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in shares of ServiceNow by 64.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 291,672 shares of the information technology services provider’s stock valued at $38,030,000 after acquiring an additional 114,232 shares during the last quarter.
A number of analysts have recently commented on the company. Stifel Nicolaus upped their price target on ServiceNow from $120.00 to $150.00 and gave the company a “hold” rating in a research note on Thursday, February 1st. Barclays upped their price target on ServiceNow from $158.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Argus upped their price target on ServiceNow to $201.00 and gave the company a “buy” rating in a research note on Tuesday. Credit Suisse Group reaffirmed a “buy” rating and issued a $165.00 price target on shares of ServiceNow in a research note on Sunday, February 11th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $160.00 price target on shares of ServiceNow in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $150.79.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 31st. The information technology services provider reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $546.37 million during the quarter, compared to the consensus estimate of $532.74 million. ServiceNow had a negative return on equity of 23.78% and a negative net margin of 7.71%. The firm’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. analysts forecast that ServiceNow Inc will post 0.1 earnings per share for the current year.
In other news, Director Frederic B. Luddy sold 100,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $135.37, for a total value of $13,537,000.00. Following the completion of the sale, the director now owns 240,000 shares of the company’s stock, valued at approximately $32,488,800. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederic B. Luddy sold 170,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $129.43, for a total value of $22,003,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 660,308 shares of company stock valued at $95,837,498. 3.30% of the stock is currently owned by insiders.
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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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