Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of ServiceNow Inc (NYSE:NOW) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,429 shares of the information technology services provider’s stock after buying an additional 461 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in ServiceNow were worth $447,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Exane Derivatives increased its position in ServiceNow by 90.3% during the 4th quarter. Exane Derivatives now owns 925 shares of the information technology services provider’s stock valued at $121,000 after buying an additional 439 shares in the last quarter. SeaBridge Investment Advisors LLC bought a new position in ServiceNow during the 3rd quarter valued at approximately $118,000. Cerebellum GP LLC bought a new position in ServiceNow during the 4th quarter valued at approximately $131,000. Roble Belko & Company Inc increased its position in ServiceNow by 5,263.2% during the 4th quarter. Roble Belko & Company Inc now owns 1,019 shares of the information technology services provider’s stock valued at $133,000 after buying an additional 1,000 shares in the last quarter. Finally, Rockefeller Financial Services Inc. bought a new stake in shares of ServiceNow in the 3rd quarter worth $138,000.
A number of analysts have commented on the company. Royal Bank of Canada reissued a “buy” rating and issued a $160.00 target price on shares of ServiceNow in a report on Thursday, February 1st. Sanford C. Bernstein reissued an “outperform” rating and issued a $208.00 target price (up previously from $158.00) on shares of ServiceNow in a report on Thursday, February 1st. Oppenheimer reissued a “hold” rating on shares of ServiceNow in a report on Thursday, February 1st. Barclays lifted their target price on ServiceNow from $150.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Evercore ISI reissued a “buy” rating and issued a $170.00 target price on shares of ServiceNow in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $148.97.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $546.37 million for the quarter, compared to the consensus estimate of $532.74 million. ServiceNow had a negative return on equity of 24.97% and a negative net margin of 7.71%. ServiceNow’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. equities analysts anticipate that ServiceNow Inc will post 0.1 EPS for the current fiscal year.
In related news, Director Anita M. Sands sold 1,636 shares of ServiceNow stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $150.51, for a total transaction of $246,234.36. Following the transaction, the director now directly owns 12,704 shares in the company, valued at $1,912,079.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic B. Luddy sold 170,000 shares of ServiceNow stock in a transaction 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. Insiders have sold 518,060 shares of company stock worth $69,903,411 over the last quarter. 3.30% of the stock is owned by company insiders.
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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