ServiceNow Inc (NOW) Position Increased by Strs Ohio
Strs Ohio boosted its holdings in shares of ServiceNow Inc (NYSE:NOW) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 491,354 shares of the information technology services provider’s stock after purchasing an additional 10,377 shares during the quarter. Strs Ohio’s holdings in ServiceNow were worth $87,485,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Shine Investment Advisory Services Inc. boosted its stake in ServiceNow by 50.5% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 167 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Financial Management Professionals Inc. bought a new stake in ServiceNow during the 4th quarter valued at approximately $30,000. North Star Investment Management Corp. bought a new stake in ServiceNow during the 4th quarter valued at approximately $31,000. Stratos Wealth Partners LTD. bought a new stake in ServiceNow during the 3rd quarter valued at approximately $101,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in ServiceNow during the 3rd quarter valued at approximately $117,000. Hedge funds and other institutional investors own 94.26% of the company’s stock.
In other news, Director Ronald E. F. Codd sold 12,030 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $170.90, for a total value of $2,055,927.00. Following the completion of the transaction, the director now directly owns 35,458 shares of the company’s stock, valued at approximately $6,059,772.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John J. Donahoe sold 15,560 shares of the stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $161.52, for a total value of $2,513,251.20. Following the completion of the transaction, the chief executive officer now directly owns 78,141 shares of the company’s stock, valued at $12,621,334.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 212,718 shares of company stock valued at $37,068,921. 1.60% of the stock is currently owned by insiders.
ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 24th. The information technology services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.61. ServiceNow had a negative return on equity of 2.93% and a negative net margin of 2.52%. The business had revenue of $673.10 million during the quarter, compared to analysts’ expectations of $659.41 million. On average, sell-side analysts forecast that ServiceNow Inc will post 0.17 EPS for the current fiscal year.
NOW has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on ServiceNow from $198.00 to $188.00 and set an “overweight” rating for the company in a research note on Tuesday, October 23rd. Jefferies Financial Group initiated coverage on ServiceNow in a research note on Monday, October 1st. They set a “buy” rating and a $240.00 target price for the company. Macquarie set a $210.00 target price on ServiceNow and gave the company a “buy” rating in a research note on Friday, October 12th. ValuEngine upgraded ServiceNow from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 1st. Finally, Needham & Company LLC began coverage on ServiceNow in a research report on Monday, October 22nd. They issued a “buy” rating and a $224.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $204.89.
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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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