544 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Contravisory Investment Management Inc.


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Contravisory Investment Management Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 544 shares of the information technology services provider’s stock, valued at approximately $299,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Great West Life Assurance Co. Can increased its holdings in shares of ServiceNow by 351.1% during the third quarter. Great West Life Assurance Co. Can now owns 806,439 shares of the information technology services provider’s stock valued at $86,765,000 after acquiring an additional 627,663 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in ServiceNow by 859.6% in the third quarter. AustralianSuper Pty Ltd now owns 359,804 shares of the information technology services provider’s stock valued at $174,505,000 after acquiring an additional 322,309 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in ServiceNow by 17.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,876,174 shares of the information technology services provider’s stock worth $909,944,000 after acquiring an additional 278,285 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of ServiceNow by 308.1% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 194,373 shares of the information technology services provider’s stock valued at $94,271,000 after acquiring an additional 146,742 shares during the last quarter. Finally, Jupiter Asset Management Ltd. raised its position in shares of ServiceNow by 1,361.6% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 136,089 shares of the information technology services provider’s stock valued at $65,950,000 after acquiring an additional 126,778 shares during the last quarter. 80.15% of the stock is currently owned by hedge funds and other institutional investors.

In related news, General Counsel Russell S. Elmer sold 1,150 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $499.21, for a total transaction of $574,091.50. Following the sale, the general counsel now owns 7,077 shares in the company, valued at $3,532,909.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederic B. Luddy sold 16,500 shares of the company’s stock in a transaction dated Thursday, January 7th. The stock was sold at an average price of $512.39, for a total value of $8,454,435.00. Following the sale, the director now owns 811 shares in the company, valued at approximately $415,548.29. The disclosure for this sale can be found here. Insiders have sold 61,175 shares of company stock worth $31,883,815 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

NOW has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on ServiceNow from $500.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. Argus lifted their price objective on ServiceNow from $509.00 to $600.00 in a research note on Friday, October 30th. Raymond James lifted their price objective on ServiceNow from $490.00 to $575.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 29th. Bank of America initiated coverage on ServiceNow in a research note on Wednesday, December 16th. They set a “buy” rating and a $650.00 price objective for the company. Finally, KeyCorp initiated coverage on ServiceNow in a research note on Monday, November 23rd. They set an “overweight” rating and a $620.00 price objective for the company. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $537.56.

NOW stock opened at $521.71 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $101.79 billion, a P/E ratio of 147.79, a P/E/G ratio of 17.14 and a beta of 1.15. The business has a 50-day moving average of $536.72 and a 200-day moving average of $484.27. ServiceNow, Inc. has a fifty-two week low of $238.93 and a fifty-two week high of $566.74.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.18. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.11 billion. ServiceNow had a return on equity of 9.79% and a net margin of 16.60%. Equities analysts expect that ServiceNow, Inc. will post 1.11 EPS for the current year.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company offers information technology (IT) service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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