State Street Corp Has $50,365,000 Position in Now Inc. (DNOW)

State Street Corp increased its position in shares of Now Inc. (NYSE:DNOW) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,842,591 shares of the company’s stock after buying an additional 66,585 shares during the period. State Street Corp owned about 2.65% of Now worth $50,365,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in DNOW. Pacad Investment Ltd. acquired a new stake in shares of Now during the first quarter valued at approximately $198,000. BB&T Securities LLC raised its stake in shares of Now by 18.7% in the first quarter. BB&T Securities LLC now owns 15,038 shares of the company’s stock valued at $266,000 after buying an additional 2,374 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Now by 58.3% in the first quarter. Raymond James Trust N.A. now owns 18,605 shares of the company’s stock valued at $329,000 after buying an additional 6,850 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Now during the first quarter valued at approximately $516,000. Finally, Nisa Investment Advisors L.L.C. acquired a new stake in shares of Now during the first quarter valued at approximately $543,000.

Shares of Now Inc. (NYSE:DNOW) traded down 1.17% during mid-day trading on Thursday, hitting $18.54. The stock had a trading volume of 849,836 shares. Now Inc. has a 52-week low of $12.03 and a 52-week high of $20.78. The company’s 50 day moving average is $18.80 and its 200-day moving average is $16.92. The stock’s market cap is $1.99 billion.

Now (NYSE:DNOW) last announced its earnings results on Wednesday, May 4th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). The business had revenue of $548 million for the quarter, compared to analysts’ expectations of $567.59 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was down 36.5% compared to the same quarter last year. On average, equities research analysts anticipate that Now Inc. will post ($1.58) earnings per share for the current fiscal year.

Several brokerages recently commented on DNOW. Zacks Investment Research upgraded Now from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. JPMorgan Chase & Co. upped their target price on Now from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, May 5th. Seven research analysts have rated the stock with a hold rating, Now presently has a consensus rating of “Hold” and a consensus price target of $18.43.

NOW Inc (NOW) is a global distributor to energy and industrial markets. The Company operates primarily under the DistributionNOW and Wilson Export brands. The Company operates through three segments: United States (U.S.), Canada and International. Through its network of over 300 locations across the world, it stocks and sells an offering of energy products, as well as a selection of products for industrial applications.