First Mercantile Trust Co Lowers stake in ServiceNow Inc (NOW)

ServiceNow Inc (NOW) : First Mercantile Trust Co reduced its stake in ServiceNow Inc by 21.68% during the most recent quarter end. The investment management company now holds a total of 5,600 shares of ServiceNow Inc which is valued at $439,712 after selling 1,550 shares in ServiceNow Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.ServiceNow Inc makes up approximately 0.06% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in NOW in the latest quarter, The investment management firm added 2,529 additional shares and now holds a total of 124,182 shares of ServiceNow Inc which is valued at $9,863,776. ServiceNow Inc makes up approx 0.04% of Bnp Paribas Arbitrage Sa’s portfolio. Washington Trust Bank added NOW to its portfolio by purchasing 14 company shares during the most recent quarter which is valued at $1,112.

ServiceNow Inc opened for trading at $78.15 and hit $78.95 on the upside on Friday, eventually ending the session at $78.52, with a gain of 0.18% or 0.14 points. The heightened volatility saw the trading volume jump to 12,93,500 shares. Company has a market cap of $12,917 M.

On the company’s financial health, ServiceNow Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.09. The company had revenue of $341.30 million for the quarter, compared to analysts expectations of $333.91 million. The company’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

Many Wall Street Analysts have commented on ServiceNow Inc. BMO Capital Markets Initiated ServiceNow Inc on Sep 20, 2016 to “Market Perform”, Price Target of the shares are set at $85.ServiceNow Inc was Initiated by Guggenheim to “Buy” on Sep 15, 2016. Company shares were Reiterated by MKM Partners on Jul 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 70 from a previous price target of $60 .

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 solutions that address the needs of a range of departments within an organization including IT human resources (HR) facilities field service marketing legal and finance. It also provides business management and IT operations management solutions that facilitate the delivery of services across the enterprise. The Company markets its services to enterprises in a variety of industries including financial services consumer products IT services health care and technology. The Company offers a portfolio of services including Professional Services Education Services and Customer Support. The Company provides its services from data centers located in Australia Brazil Canada Hong Kong the Netherlands Singapore Switzerland the United Kingdom and the United States.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

ServiceNow Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on ServiceNow Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.