Prudential PLC Has $1.46 Million Position in ServiceNow Inc (NOW)

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Prudential PLC cut its holdings in shares of ServiceNow Inc (NYSE:NOW) by 71.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,200 shares of the information technology services provider’s stock after selling 20,600 shares during the quarter. Prudential PLC’s holdings in ServiceNow were worth $1,460,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Berkshire Capital Holdings Inc. grew its stake in shares of ServiceNow by 889.5% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 41,460 shares of the information technology services provider’s stock worth $7,382,000 after acquiring an additional 37,270 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of ServiceNow by 17.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 22,134 shares of the information technology services provider’s stock worth $3,941,000 after acquiring an additional 3,259 shares during the period. Advisors Asset Management Inc. grew its stake in shares of ServiceNow by 26.6% during the 4th quarter. Advisors Asset Management Inc. now owns 20,609 shares of the information technology services provider’s stock worth $3,669,000 after acquiring an additional 4,325 shares during the period. Roman Butler Fullerton & Co. bought a new position in shares of ServiceNow during the 4th quarter worth $518,000. Finally, KAMES CAPITAL plc grew its stake in shares of ServiceNow by 611.7% during the 4th quarter. KAMES CAPITAL plc now owns 360,530 shares of the information technology services provider’s stock worth $64,138,000 after acquiring an additional 309,870 shares during the period. 97.07% of the stock is owned by hedge funds and other institutional investors.

In other ServiceNow news, Director Anita M. Sands sold 1,304 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $235.00, for a total value of $306,440.00. Following the sale, the director now owns 9,571 shares of the company’s stock, valued at approximately $2,249,185. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald E. F. Codd sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $220.08, for a total value of $22,008,000.00. Following the completion of the sale, the director now directly owns 78,428 shares in the company, valued at approximately $17,260,434.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,756 shares of company stock worth $57,018,261. Insiders own 1.60% of the company’s stock.

Several research analysts have recently weighed in on the company. Mizuho assumed coverage on ServiceNow in a research note on Wednesday. They set a “buy” rating and a $265.00 price target for the company. ValuEngine upgraded ServiceNow from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. increased their price target on ServiceNow to $245.00 and gave the stock an “overweight” rating in a research note on Thursday, January 31st. Credit Suisse Group reiterated an “outperform” rating and set a $225.00 price target (up previously from $215.00) on shares of ServiceNow in a research note on Thursday, January 31st. Finally, Goldman Sachs Group raised their target price on ServiceNow from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, February 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $229.15.

NYSE:NOW opened at $241.89 on Friday. ServiceNow Inc has a twelve month low of $147.63 and a twelve month high of $245.33. The stock has a market capitalization of $43.66 billion, a price-to-earnings ratio of 1,209.45, a price-to-earnings-growth ratio of 24.46 and a beta of 1.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.16.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 30th. The information technology services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. ServiceNow had a positive return on equity of 3.95% and a negative net margin of 1.02%. The firm had revenue of $715.44 million for the quarter, compared to analysts’ expectations of $717.73 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s revenue was up 30.3% compared to the same quarter last year. As a group, research analysts expect that ServiceNow Inc will post 0.35 earnings per share for the current fiscal year.

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ServiceNow Company Profile

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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