ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario increased its position in ServiceNow, Inc. (NYSE:NOW) by 91.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,947 shares of the information technology services provider’s stock after buying an additional 4,264 shares during the quarter. Investment Management Corp of Ontario’s holdings in ServiceNow were worth $8,002,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NOW. International Assets Investment Management LLC increased its position in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after acquiring an additional 1,183,739 shares during the last quarter. Bank of Montreal Can grew its stake in ServiceNow by 216.6% during the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after purchasing an additional 935,848 shares in the last quarter. FMR LLC increased its holdings in ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of ServiceNow by 917.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 310,754 shares of the information technology services provider’s stock valued at $277,935,000 after purchasing an additional 280,210 shares in the last quarter. Finally, AustralianSuper Pty Ltd purchased a new position in shares of ServiceNow during the 2nd quarter valued at approximately $218,786,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOW has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Sanford C. Bernstein boosted their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. KeyCorp upped their price objective on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, TD Cowen boosted their price target on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $994.43.

ServiceNow Stock Down 0.1 %

ServiceNow stock opened at $1,048.43 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,072.84. The firm’s fifty day simple moving average is $963.10 and its 200-day simple moving average is $847.50. The company has a market capitalization of $215.98 billion, a P/E ratio of 163.05, a P/E/G ratio of 6.02 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the company posted $1.21 EPS. The firm’s revenue was up 22.2% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,329 shares of company stock worth $20,547,241 over the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.