Avalon Global Asset Management buys $6.6 Million stake in ServiceNow Inc (NOW)

ServiceNow Inc (NOW) : Avalon Global Asset Management scooped up 20,000 additional shares in ServiceNow Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 98,500 shares of ServiceNow Inc which is valued at $6.6 Million.ServiceNow Inc makes up approximately 7.01% of Avalon Global Asset Management’s portfolio.

Other Hedge Funds, Including , Shearlink Capital added NOW to its portfolio by purchasing 242,490 company shares during the most recent quarter which is valued at $16.4 Million. ServiceNow Inc makes up approx 6.38% of Shearlink Capital’s portfolio.Thrivent Financial For Lutherans reduced its stake in NOW by selling 81,390 shares or 46.76% in the most recent quarter. The Hedge Fund company now holds 92,678 shares of NOW which is valued at $6.3 Million. ServiceNow Inc makes up approx 0.03% of Thrivent Financial For Lutherans’s portfolio.Menta Capital reduced its stake in NOW by selling 24,228 shares or 45.79% in the most recent quarter. The Hedge Fund company now holds 28,682 shares of NOW which is valued at $1.9 Million. ServiceNow Inc makes up approx 0.27% of Menta Capital’s portfolio. Ironwood Financial sold out all of its stake in NOW during the most recent quarter. The investment firm sold 2,000 shares of NOW which is valued $134,560.Ifp Advisors Inc boosted its stake in NOW in the latest quarter, The investment management firm added 84 additional shares and now holds a total of 138 shares of ServiceNow Inc which is valued at $9,285.

ServiceNow Inc closed down -0.22 points or -0.31% at $70.76 with 11,16,040 shares getting traded on Wednesday. Post opening the session at $71.35, the shares hit an intraday low of $70.63 and an intraday high of $71.4999 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, ServiceNow Inc reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.07. The company had revenue of $305.90 million for the quarter, compared to analysts expectations of $300.83 million. The company’s revenue was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on ServiceNow Inc. Company shares were Reiterated by Wunderlich on Apr 21, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $75 .ServiceNow Inc was Initiated by Macquarie to “Outperform” on Mar 4, 2016. Shares were Reiterated by Deutsche Bank on Feb 22, 2016 to “Buy” and Lowered the Price Target to $ 75 from a previous price target of $90 .

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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