Bamco Inc. NY Cuts Holdings in ServiceNow (NOW)

Bamco Inc. NY decreased its holdings in ServiceNow (NYSE:NOW) by 12.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,333 shares of the information technology services provider’s stock after selling 8,252 shares during the quarter. Bamco Inc. NY’s holdings in ServiceNow were worth $7,476,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NOW. American Century Companies Inc. boosted its position in shares of ServiceNow by 162.5% in the 4th quarter. American Century Companies Inc. now owns 1,771,319 shares of the information technology services provider’s stock worth $230,962,000 after purchasing an additional 1,096,491 shares in the last quarter. Ardevora Asset Management LLP acquired a new stake in ServiceNow during the 3rd quarter worth about $39,255,000. Carillon Tower Advisers Inc. acquired a new stake in ServiceNow during the 4th quarter worth about $27,401,000. Tremblant Capital Group lifted its position in ServiceNow by 38.9% during the 3rd quarter. Tremblant Capital Group now owns 435,776 shares of the information technology services provider’s stock worth $51,217,000 after acquiring an additional 121,970 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its position in ServiceNow by 64.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 291,672 shares of the information technology services provider’s stock worth $38,030,000 after acquiring an additional 114,232 shares during the period.

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In other ServiceNow news, Director Anita M. Sands sold 1,636 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 12,704 shares in the company, valued at approximately $1,912,079.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frederic B. Luddy sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $135.37, for a total value of $13,537,000.00. Following the sale, the director now owns 240,000 shares of the company’s stock, valued at $32,488,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 490,308 shares of company stock valued at $73,834,398. 3.30% of the stock is owned by company insiders.

Shares of NOW stock traded down $3.83 on Monday, hitting $161.62. The company had a trading volume of 1,900,288 shares, compared to its average volume of 1,995,925. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.08. ServiceNow has a twelve month low of $84.03 and a twelve month high of $176.56. The stock has a market cap of $28,904.11, a PE ratio of -153.92, a price-to-earnings-growth ratio of 36.92 and a beta of 1.08.

ServiceNow (NYSE:NOW) last announced its quarterly 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. ServiceNow had a negative return on equity of 23.78% and a negative net margin of 7.71%. The firm had revenue of $546.37 million during the quarter, compared to analyst estimates of $532.74 million. During the same quarter in the previous year, the business earned $0.25 EPS. ServiceNow’s revenue for the quarter was up 41.7% compared to the same quarter last year. sell-side analysts anticipate that ServiceNow will post 0.1 earnings per share for the current fiscal year.

A number of analysts have commented on NOW shares. Bank of America lifted their price target on ServiceNow from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Mizuho reaffirmed a “buy” rating and set a $160.00 price target (up previously from $140.00) on shares of ServiceNow in a research report on Monday, January 22nd. Piper Jaffray reaffirmed an “overweight” rating and set a $160.00 price target on shares of ServiceNow in a research report on Tuesday, January 16th. Credit Suisse Group reaffirmed a “buy” rating and set a $165.00 price target on shares of ServiceNow in a research report on Sunday, February 11th. Finally, Cowen reaffirmed a “buy” rating and set a $160.00 price target on shares of ServiceNow in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $155.93.

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About ServiceNow

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.

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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