Nuveen Asset Management LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,925,155 shares of the information technology services provider’s stock after acquiring an additional 305,908 shares during the period. ServiceNow makes up about 0.6% of Nuveen Asset Management LLC’s holdings, making the stock its 29th largest holding. Nuveen Asset Management LLC owned 1.46% of ServiceNow worth $1,898,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. CLARET ASSET MANAGEMENT Corp bought a new position in shares of ServiceNow in the third quarter valued at approximately $204,000. DNB Asset Management AS boosted its stake in ServiceNow by 6.7% during the fourth quarter. DNB Asset Management AS now owns 32,989 shares of the information technology services provider’s stock valued at $21,413,000 after buying an additional 2,085 shares during the period. Lloyd Advisory Services LLC. boosted its stake in ServiceNow by 22.5% during the fourth quarter. Lloyd Advisory Services LLC. now owns 125 shares of the information technology services provider’s stock valued at $81,000 after buying an additional 23 shares during the period. Zacks Investment Management boosted its stake in ServiceNow by 1,453.0% during the third quarter. Zacks Investment Management now owns 13,511 shares of the information technology services provider’s stock valued at $8,408,000 after buying an additional 12,641 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in ServiceNow by 0.3% during the fourth quarter. New York State Teachers Retirement System now owns 225,098 shares of the information technology services provider’s stock valued at $146,113,000 after buying an additional 767 shares during the period. 87.20% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Paul John Smith sold 412 shares of ServiceNow stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $427.17, for a total value of $175,994.04. Following the completion of the transaction, the insider now owns 1,755 shares of the company’s stock, valued at approximately $749,683.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $556.81, for a total transaction of $3,674,946.00. Following the sale, the director now directly owns 707 shares in the company, valued at $393,664.67. The disclosure for this sale can be found here. Insiders have sold 15,370 shares of company stock valued at $8,436,928 in the last ninety days. Insiders own 0.35% of the company’s stock.
ServiceNow (NYSE:NOW – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.03. ServiceNow had a net margin of 3.56% and a return on equity of 8.66%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the business earned $0.50 EPS. ServiceNow’s quarterly revenue was up 26.6% compared to the same quarter last year. Equities research analysts expect that ServiceNow, Inc. will post 1.8 EPS for the current fiscal year.
Several equities research analysts have issued reports on NOW shares. Mizuho dropped their target price on shares of ServiceNow from $650.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com started coverage on shares of ServiceNow in a research report on Thursday, March 31st. They set a “hold” rating for the company. Stifel Nicolaus dropped their target price on shares of ServiceNow from $650.00 to $550.00 in a research report on Wednesday. Truist Financial dropped their price target on ServiceNow from $700.00 to $600.00 in a research note on Tuesday, May 10th. Finally, BNP Paribas lowered ServiceNow from a “neutral” rating to an “underperform” rating and set a $460.00 price target for the company. in a research note on Tuesday, March 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Buy” and an average target price of $638.59.
ServiceNow Profile (Get Rating)
ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
- Get a free copy of the StockNews.com research report on ServiceNow (NOW)
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