ServiceNow Inc (NYSE:NOW) Holdings Lowered by Tributary Capital Management LLC
Source : mayfieldrecorder.com
Tributary Capital Management LLC trimmed its holdings in ServiceNow Inc (NYSE:NOW) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,500 shares of the information technology services provider’s stock after selling 1,500 shares during the period. Tributary Capital Management LLC’s holdings in ServiceNow were worth $3,707,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in NOW. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at approximately $297,403,000. GQG Partners LLC raised its position in shares of ServiceNow by 444.8% in the 1st quarter. GQG Partners LLC now owns 985,385 shares of the information technology services provider’s stock valued at $242,370,000 after purchasing an additional 804,514 shares in the last quarter. Jennison Associates LLC raised its position in shares of ServiceNow by 26.2% in the 1st quarter. Jennison Associates LLC now owns 3,036,568 shares of the information technology services provider’s stock valued at $748,484,000 after purchasing an additional 630,491 shares in the last quarter. Carillon Tower Advisers Inc. raised its position in shares of ServiceNow by 60.2% in the 1st quarter. Carillon Tower Advisers Inc. now owns 701,244 shares of the information technology services provider’s stock valued at $172,849,000 after purchasing an additional 263,615 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of ServiceNow by 14.6% in the 4th quarter. American Century Companies Inc. now owns 1,772,188 shares of the information technology services provider’s stock valued at $315,538,000 after purchasing an additional 226,028 shares in the last quarter. 93.66% of the stock is currently owned by institutional investors.
In other news, insider Chirantan Jitendra Desai sold 1,563 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $302.30, for a total value of $472,494.90. Following the completion of the transaction, the insider now owns 32,824 shares of the company’s stock, valued at $9,922,695.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Scarpelli sold 31,183 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $260.22, for a total value of $8,114,440.26. Following the completion of the transaction, the chief financial officer now directly owns 36,200 shares of the company’s stock, valued at approximately $9,419,964. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,359 shares of company stock valued at $32,001,932. 1.00% of the stock is owned by company insiders. A number of brokerages have issued reports on NOW. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 target price (up from $295.00) on shares of ServiceNow in a research report on Thursday, July 25th. JMP Securities upped their target price on ServiceNow to $325.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. ValuEngine lowered ServiceNow from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. Cleveland Research began coverage on ServiceNow in a research report on Monday, June 17th. They set a “buy” rating on the stock. Finally, KeyCorp upped their price target on ServiceNow from $270.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $287.86.
Shares of NOW opened at $256.91 on Monday. The company has a market cap of $47.30 billion, a P/E ratio of 1,284.55, a PEG ratio of 21.00 and a beta of 1.30. The stock has a fifty day moving average price of $281.92 and a 200 day moving average price of $259.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow Inc has a 12 month low of $147.63 and a 12 month high of $303.17.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $833.90 million during the quarter, compared to the consensus estimate of $831.50 million. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The firm’s revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. As a group, research analysts anticipate that ServiceNow Inc will post 0.43 earnings per share for the current year.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.