Magee Thomson Investment Partners Lowers stake in ServiceNow Inc (NOW)

ServiceNow Inc (NOW) : Magee Thomson Investment Partners reduced its stake in ServiceNow Inc by 11.34% during the most recent quarter end. The investment management company now holds a total of 182,550 shares of ServiceNow Inc which is valued at $13,265,909 after selling 23,350 shares in ServiceNow Inc , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.ServiceNow Inc makes up approximately 4.41% of Magee Thomson Investment Partners’s portfolio.

Other Hedge Funds, Including , Loring Wolcott Coolidge Fiduciary Advisors Llpma reduced its stake in NOW by selling 675 shares or 13.31% in the most recent quarter. The Hedge Fund company now holds 4,396 shares of NOW which is valued at $308,379. ServiceNow Inc makes up approx 0.01% of Loring Wolcott Coolidge Fiduciary Advisors Llpma’s portfolio.Dnb Asset Management As reduced its stake in NOW by selling 244,700 shares or 87.01% in the most recent quarter. The Hedge Fund company now holds 36,542 shares of NOW which is valued at $2,525,783. ServiceNow Inc makes up approx 0.05% of Dnb Asset Management As’s portfolio.Curian Capital reduced its stake in NOW by selling 62,413 shares or 71.66% in the most recent quarter. The Hedge Fund company now holds 24,683 shares of NOW which is valued at $1,706,089. ServiceNow Inc makes up approx 0.12% of Curian Capital’s portfolio.

ServiceNow Inc opened for trading at $75.4 and hit $78.77 on the upside on Thursday, eventually ending the session at $76.38, with a gain of 4.66% or 3.4 points. The heightened volatility saw the trading volume jump to 39,91,920 shares. Company has a market cap of $12,435 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 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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