Vident Investment Advisory LLC bought a new stake in ServiceNow Inc (NYSE:NOW) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,995 shares of the information technology services provider’s stock, valued at approximately $1,034,000.

Other hedge funds have also modified their holdings of the company. CAPROCK Group Inc. purchased a new stake in shares of ServiceNow during the second quarter worth about $266,000. Mn Services Vermogensbeheer B.V. grew its stake in shares of ServiceNow by 2.6% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 27,151 shares of the information technology services provider’s stock worth $4,492,000 after acquiring an additional 700 shares during the last quarter. BP PLC grew its stake in shares of ServiceNow by 10.0% during the second quarter. BP PLC now owns 22,000 shares of the information technology services provider’s stock worth $3,795,000 after acquiring an additional 2,000 shares during the last quarter. Usca Ria LLC purchased a new stake in shares of ServiceNow during the second quarter worth about $345,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of ServiceNow by 1.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,771 shares of the information technology services provider’s stock worth $9,964,000 after acquiring an additional 752 shares during the last quarter. Institutional investors and hedge funds own 95.80% of the company’s stock.

In other ServiceNow news, CRO David Schneider sold 10,252 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $181.76, for a total value of $1,863,403.52. Following the completion of the transaction, the executive now directly owns 44,376 shares of the company’s stock, valued at $8,065,781.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chirantan Jitendra Desai sold 2,031 shares of the business’s stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $188.83, for a total value of $383,513.73. Following the completion of the transaction, the insider now directly owns 2,534 shares of the company’s stock, valued at $478,495.22. The disclosure for this sale can be found here. Insiders sold 157,850 shares of company stock valued at $29,228,095 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on NOW shares. Deutsche Bank boosted their price target on ServiceNow to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 31st. Argus boosted their price target on ServiceNow to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. They noted that the move was a valuation call. Deutsche Bank boosted their price target on ServiceNow from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 31st. Barclays restated a “buy” rating and set a $198.00 price target on shares of ServiceNow in a research note on Friday, July 27th. Finally, Zacks Investment Research lowered ServiceNow from a “hold” rating to a “strong sell” rating in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $190.42.

Shares of NYSE:NOW opened at $192.82 on Tuesday. ServiceNow Inc has a 12-month low of $110.17 and a 12-month high of $206.29. The company has a market capitalization of $36.12 billion, a price-to-earnings ratio of -183.64, a P/E/G ratio of 48.19 and a beta of 1.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.28.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. ServiceNow had a negative return on equity of 7.48% and a negative net margin of 4.16%. The company had revenue of $631.05 million during the quarter, compared to the consensus estimate of $616.68 million. During the same period in the previous year, the company posted $0.22 earnings per share. ServiceNow’s revenue for the quarter was up 40.8% on a year-over-year basis. sell-side analysts anticipate that ServiceNow Inc will post 0.16 EPS for the current year.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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