Jericho Capital Asset Management adds ServiceNow Inc (NOW) to its portfolio

ServiceNow Inc (NOW) : Jericho Capital Asset Management added new position in ServiceNow Inc during the most recent quarter end. The investment management firm now holds 852,424 shares of ServiceNow Inc which is valued at $70,981,346 , the company said in a statement filed on Nov 14, 2016 with the SEC.ServiceNow Inc makes up approximately 3.72% of Jericho Capital Asset Management’s portfolio.

Other Hedge Funds, Including , Teachers Retirement System Of The State Of Kentucky reduced its stake in NOW by selling 51,253 shares or 60.46% in the most recent quarter. The Hedge Fund company now holds 33,516 shares of NOW which is valued at $2,790,877. ServiceNow Inc makes up approx 0.04% of Teachers Retirement System Of The State Of Kentucky’s portfolio.Emerald Acquisition Ltd. reduced its stake in NOW by selling 94,357 shares or 20.21% in the most recent quarter. The Hedge Fund company now holds 372,510 shares of NOW which is valued at $31,655,900. ServiceNow Inc makes up approx 0.06% of Emerald Acquisition Ltd.’s portfolio.New York State Common Retirement Fund reduced its stake in NOW by selling 26,000 shares or 7.07% in the most recent quarter. The Hedge Fund company now holds 341,600 shares of NOW which is valued at $29,066,744. ServiceNow Inc makes up approx 0.04% of New York State Common Retirement Fund’s portfolio.Sg Americas Securities boosted its stake in NOW in the latest quarter, The investment management firm added 3,215 additional shares and now holds a total of 73,053 shares of ServiceNow Inc which is valued at $6,216,080. ServiceNow Inc makes up approx 0.08% of Sg Americas Securities’s portfolio.Ngam Advisors reduced its stake in NOW by selling 1,793 shares or 10.53% in the most recent quarter. The Hedge Fund company now holds 15,236 shares of NOW which is valued at $1,267,788. ServiceNow Inc makes up approx 0.02% of Ngam Advisors’s portfolio.

ServiceNow Inc closed down -1.08 points or -1.24% at $85.75 with 12,48,346 shares getting traded on Monday. Post opening the session at $87.01, the shares hit an intraday low of $85.5 and an intraday high of $87.79 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 $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $0.21. The company had revenue of $357.66 million for the quarter, compared to analysts expectations of $352.52 million. The company’s revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on ServiceNow Inc. Company shares were Reiterated by Mizuho on Oct 27, 2016 to “Buy”, Firm has raised the Price Target to $ 90 from a previous price target of $85 .Company shares were Reiterated by Wunderlich on Oct 27, 2016 to “Buy”, Firm has raised the Price Target to $ 95 from a previous price target of $85 .Company shares were Upgraded by BMO Capital Markets on Oct 27, 2016 to ” Outperform”, Firm has raised the Price Target to $ 97 from a previous price target of $85 .

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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