Hunt Lane Capital Lp Exits Position in ServiceNow Inc (NOW)

ServiceNow Inc (NOW) : Hunt Lane Capital Lp has sold out all of its stake in ServiceNow Inc during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 200,000 shares of ServiceNow Inc which is valued at $15,154,000.

Other Hedge Funds, Including , Zions Bancorporation boosted its stake in NOW in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 19 shares of ServiceNow Inc which is valued at $1,440.Trexquant Investment Lp reduced its stake in NOW by selling 9,570 shares or 29.32% in the most recent quarter. The Hedge Fund company now holds 23,069 shares of NOW which is valued at $1,747,938. ServiceNow Inc makes up approx 0.22% of Trexquant Investment Lp’s portfolio.Blackrock Investment Management boosted its stake in NOW in the latest quarter, The investment management firm added 9,658 additional shares and now holds a total of 74,704 shares of ServiceNow Inc which is valued at $5,660,322. ServiceNow Inc makes up approx 0.01% of Blackrock Investment Management’s portfolio.Global X Management Co boosted its stake in NOW in the latest quarter, The investment management firm added 191 additional shares and now holds a total of 603 shares of ServiceNow Inc which is valued at $45,882.Daiwa Securities Group boosted its stake in NOW in the latest quarter, The investment management firm added 4,420 additional shares and now holds a total of 100,520 shares of ServiceNow Inc which is valued at $7,335,950. ServiceNow Inc makes up approx 0.04% of Daiwa Securities Group’s portfolio.

ServiceNow Inc opened for trading at $72.13 and hit $74.09 on the upside on Thursday, eventually ending the session at $74, with a gain of 1.83% or 1.33 points. The heightened volatility saw the trading volume jump to 15,48,071 shares. Company has a market cap of $12,173 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. 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 .Company shares were Upgraded by Mizuho on Jul 15, 2016 to ” Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $70 .

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.

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