Shearlink Capital buys $28,734,030 stake in ServiceNow Inc (NOW)

ServiceNow Inc (NOW) : Shearlink Capital scooped up 136,737 additional shares in ServiceNow Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 379,227 shares of ServiceNow Inc which is valued at $28,734,030.ServiceNow Inc makes up approximately 11.47% of Shearlink Capital’s portfolio.

Other Hedge Funds, Including , Ubs Oconnor sold out all of its stake in NOW during the most recent quarter. The investment firm sold 20,623 shares of NOW which is valued $1,562,605.Waldron Lp reduced its stake in NOW by selling 118 shares or 2.25% in the most recent quarter. The Hedge Fund company now holds 5,137 shares of NOW which is valued at $390,874. ServiceNow Inc makes up approx 0.14% of Waldron Lp’s portfolio.Neuberger Berman Group reduced its stake in NOW by selling 34,366 shares or 11.15% in the most recent quarter. The Hedge Fund company now holds 273,807 shares of NOW which is valued at $20,762,785. ServiceNow Inc makes up approx 0.03% of Neuberger Berman Group’s portfolio.Jennison Associates reduced its stake in NOW by selling 215,180 shares or 12.23% in the most recent quarter. The Hedge Fund company now holds 1,544,879 shares of NOW which is valued at $114,738,163. ServiceNow Inc makes up approx 0.12% of Jennison Associates’s portfolio.

ServiceNow Inc closed down -0.11 points or -0.15% at $73.39 with 8,84,961 shares getting traded on Monday. Post opening the session at $73.61, the shares hit an intraday low of $72.92 and an intraday high of $73.83 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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