Amalgamated Bank increased its position in shares of ServiceNow Inc. (NYSE:NOW) by 125.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,486 shares of the company’s stock after buying an additional 6,398 shares during the period. Amalgamated Bank’s holdings in ServiceNow were worth $874,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Mizuho Asset Management Co. Ltd. increased its stake in ServiceNow by 162.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock worth $151,000 after buying an additional 1,406 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of ServiceNow by 343.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,379 shares of the company’s stock valued at $158,000 after buying an additional 1,843 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of ServiceNow during the second quarter valued at approximately $177,000. Capstone Asset Management Co. acquired a new position in shares of ServiceNow during the second quarter valued at approximately $231,000. Finally, World Asset Management Inc acquired a new position in shares of ServiceNow during the second quarter valued at approximately $246,000. 95.81% of the stock is currently owned by institutional investors.
Shares of ServiceNow Inc. (NYSE:NOW) traded up 0.60% on Friday, hitting $82.63. 1,852,041 shares of the stock traded hands. The stock’s market cap is $13.67 billion. ServiceNow Inc. has a 52 week low of $46.00 and a 52 week high of $91.28. The stock has a 50 day moving average price of $80.48 and a 200-day moving average price of $74.33.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 26th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $357.66 million for the quarter, compared to analysts’ expectations of $352.16 million. ServiceNow had a negative net margin of 35.38% and a negative return on equity of 38.73%. The company’s quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 earnings per share. On average, equities research analysts forecast that ServiceNow Inc. will post $0.70 EPS for the current year.
Several research analysts have recently commented on the company. DA Davidson set a $102.00 target price on ServiceNow and gave the stock a “buy” rating in a report on Thursday, October 27th. Cowen and Company set a $100.00 target price on ServiceNow and gave the stock a “buy” rating in a report on Thursday, October 27th. MKM Partners reissued a “neutral” rating on shares of ServiceNow in a report on Friday, November 4th. BMO Capital Markets raised ServiceNow from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $97.00 in a report on Thursday, October 27th. Finally, Wunderlich boosted their target price on ServiceNow from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, October 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $85.93.
In related news, CRO David Schneider sold 3,627 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $84.47, for a total transaction of $306,372.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Daniel Mcgee sold 14,191 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $80.00, for a total transaction of $1,135,280.00. Following the sale, the chief operating officer now owns 5,321 shares in the company, valued at $425,680. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.
ServiceNow Company Profile
ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.