Tyers Asset Management LLC Raises Stock Position in ServiceNow Inc (NYSE:NOW)

Tyers Asset Management LLC lifted its holdings in shares of ServiceNow Inc (NYSE:NOW) by 118.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,136 shares of the information technology services provider’s stock after acquiring an additional 2,244 shares during the quarter. Tyers Asset Management LLC’s holdings in ServiceNow were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Sandy Spring Bank boosted its position in shares of ServiceNow by 118.0% in the first quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock worth $27,000 after buying an additional 59 shares during the period. San Francisco Sentry Investment Group CA grew its holdings in ServiceNow by 650.0% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 91 shares in the last quarter. Motco acquired a new stake in ServiceNow during the 2nd quarter valued at $33,000. Knuff & Co LLC acquired a new stake in ServiceNow during the 1st quarter valued at $37,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in ServiceNow during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

NOW stock traded up $5.29 during trading on Wednesday, hitting $258.47. 747,870 shares of the company’s stock traded hands, compared to its average volume of 1,565,896. The stock has a market capitalization of $48.19 billion, a price-to-earnings ratio of 1,292.35, a price-to-earnings-growth ratio of 21.40 and a beta of 1.34. ServiceNow Inc has a 52 week low of $147.63 and a 52 week high of $303.17. The stock has a fifty day moving average price of $266.54 and a two-hundred day moving average price of $263.12. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.54.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. ServiceNow had a net margin of 0.09% and a return on equity of 4.29%. The company had revenue of $833.90 million for the quarter, compared to the consensus estimate of $831.50 million. During the same period last year, the firm posted $0.49 EPS. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, equities research analysts expect that ServiceNow Inc will post 0.43 EPS for the current fiscal year.

In other ServiceNow news, Director Anita M. Sands sold 1,770 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $268.60, for a total value of $475,422.00. Following the sale, the director now directly owns 10,784 shares in the company, valued at $2,896,582.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Scarpelli sold 31,183 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $260.22, for a total transaction of $8,114,440.26. Following 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. In the last quarter, insiders have sold 94,204 shares of company stock worth $25,559,029. 1.00% of the stock is owned by company insiders.

A number of equities analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of ServiceNow from $285.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. KeyCorp lifted their target price on ServiceNow from $270.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price target (up previously from $295.00) on shares of ServiceNow in a research note on Thursday, July 25th. UBS Group increased their price target on ServiceNow to $332.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada restated a “top pick” rating and set a $320.00 price objective (up previously from $300.00) on shares of ServiceNow in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $292.34.

ServiceNow Company Profile

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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