Tcw Group Inc Lowers stake in ServiceNow Inc (NOW)

ServiceNow Inc (NOW) : Tcw Group Inc reduced its stake in ServiceNow Inc by 1.36% during the most recent quarter end. The investment management company now holds a total of 2,126,630 shares of ServiceNow Inc which is valued at $161,134,755 after selling 29,291 shares in ServiceNow Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.ServiceNow Inc makes up approximately 1.15% of Tcw Group Inc’s portfolio.

Other Hedge Funds, Including , Wall Street Associates reduced its stake in NOW by selling 1,703 shares or 32.55% in the most recent quarter. The Hedge Fund company now holds 3,529 shares of NOW which is valued at $267,392. ServiceNow Inc makes up approx 0.10% of Wall Street Associates’s portfolio.Bnp Paribas Investment Partners S.a. boosted its stake in NOW in the latest quarter, The investment management firm added 8,668 additional shares and now holds a total of 17,852 shares of ServiceNow Inc which is valued at $1,358,359. ServiceNow Inc makes up approx 0.01% of Bnp Paribas Investment Partners S.a.’s portfolio.Inverness Counsel Ny reduced its stake in NOW by selling 19,690 shares or 7.1% in the most recent quarter. The Hedge Fund company now holds 257,551 shares of NOW which is valued at $19,530,092. ServiceNow Inc makes up approx 1.45% of Inverness Counsel Ny’s portfolio.Sg Americas Securities boosted its stake in NOW in the latest quarter, The investment management firm added 8,503 additional shares and now holds a total of 69,838 shares of ServiceNow Inc which is valued at $5,186,868. ServiceNow Inc makes up approx 0.04% of Sg Americas Securities’s portfolio.Columbus Circle Investors reduced its stake in NOW by selling 13,929 shares or 1.38% in the most recent quarter. The Hedge Fund company now holds 995,186 shares of NOW which is valued at $73,912,464. ServiceNow Inc makes up approx 0.71% of Columbus Circle Investors’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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