Peregrine Capital Management LLC Purchases Shares of 97,380 ServiceNow, Inc. (NOW)

Peregrine Capital Management LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 97,380 shares of the information technology services provider’s stock, valued at approximately $10,322,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vista Equity Partners Management LLC increased its stake in shares of ServiceNow by 27.4% in the first quarter. Vista Equity Partners Management LLC now owns 68,743 shares of the information technology services provider’s stock worth $6,013,000 after buying an additional 14,772 shares in the last quarter. United Services Automobile Association boosted its position in shares of ServiceNow by 44.6% in the first quarter. United Services Automobile Association now owns 250,551 shares of the information technology services provider’s stock worth $21,916,000 after buying an additional 77,239 shares during the last quarter. Tudor Investment Corp Et Al purchased a new position in shares of ServiceNow during the fourth quarter worth $207,000. Teachers Advisors LLC boosted its position in shares of ServiceNow by 29.0% in the first quarter. Teachers Advisors LLC now owns 698,964 shares of the information technology services provider’s stock worth $61,138,000 after buying an additional 157,079 shares during the last quarter. Finally, TLP Group LLC purchased a new position in shares of ServiceNow during the first quarter worth $131,000. 97.59% of the stock is owned by institutional investors.

ServiceNow, Inc. (NYSE NOW) traded down 1.50% on Friday, hitting $108.19. 2,151,627 shares of the stock traded hands. The firm’s market capitalization is $18.36 billion. The stock has a 50 day moving average of $106.69 and a 200 day moving average of $94.16. ServiceNow, Inc. has a 52 week low of $70.76 and a 52 week high of $113.01.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.02. ServiceNow had a negative net margin of 10.60% and a negative return on equity of 31.34%. The firm had revenue of $416.80 million for the quarter, compared to the consensus estimate of $409.26 million. During the same period in the previous year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post $1.17 earnings per share for the current year.

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NOW has been the topic of a number of recent research reports. Zacks Investment Research upgraded ServiceNow from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research note on Friday, April 28th. Morgan Stanley boosted their price target on ServiceNow from $108.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. BMO Capital Markets boosted their price target on ServiceNow from $104.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Barclays PLC reiterated an “overweight” rating and issued a $115.00 price target (up previously from $107.00) on shares of ServiceNow in a research note on Monday, June 5th. Finally, Royal Bank Of Canada boosted their price objective on ServiceNow from $108.00 to $110.00 and gave the company a “top pick” rating in a report on Thursday, April 27th. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $107.96.

In related news, Director Frederic B. Luddy sold 167,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $108.34, for a total transaction of $18,092,780.00. Following the transaction, the director now directly owns 11,190 shares of the company’s stock, valued at $1,212,324.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 102,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $110.09, for a total transaction of $11,229,180.00. Following the transaction, the director now directly owns 11,190 shares in the company, valued at $1,231,907.10. The disclosure for this sale can be found here. Insiders have sold 581,673 shares of company stock worth $61,196,746 over the last three months. 3.30% of the stock is owned by insiders.

ServiceNow Company Profile

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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