Healthcare of Ontario Pension Plan Trust Fund Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in ServiceNow, Inc. (NYSE:NOWGet Rating) by 50.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,746 shares of the information technology services provider’s stock after selling 3,760 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ServiceNow were worth $1,781,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Edgewood Management LLC acquired a new position in ServiceNow in the 1st quarter worth about $1,515,281,000. Fisher Asset Management LLC raised its holdings in ServiceNow by 57.9% in the 1st quarter. Fisher Asset Management LLC now owns 1,413,079 shares of the information technology services provider’s stock worth $786,930,000 after purchasing an additional 518,349 shares during the period. Capital International Investors raised its holdings in ServiceNow by 18.1% in the 1st quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock worth $1,786,783,000 after purchasing an additional 491,835 shares during the period. Vanguard Group Inc. raised its holdings in ServiceNow by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock worth $9,074,862,000 after purchasing an additional 306,106 shares during the period. Finally, Tiger Global Management LLC raised its holdings in ServiceNow by 10.8% in the 1st quarter. Tiger Global Management LLC now owns 2,445,005 shares of the information technology services provider’s stock worth $1,361,599,000 after purchasing an additional 238,765 shares during the period. Hedge funds and other institutional investors own 87.49% of the company’s stock.

ServiceNow Stock Up 2.3 %

ServiceNow stock opened at $409.37 on Friday. ServiceNow, Inc. has a fifty-two week low of $337.00 and a fifty-two week high of $679.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day moving average price of $389.50 and a 200 day moving average price of $436.09. The company has a market capitalization of $82.69 billion, a PE ratio of 413.51, a price-to-earnings-growth ratio of 8.09 and a beta of 0.99.

Wall Street Analyst Weigh In

NOW has been the subject of a number of research analyst reports. KeyCorp reduced their target price on ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Macquarie reissued an “outperform” rating and set a $500.00 target price on shares of ServiceNow in a report on Wednesday, November 2nd. BMO Capital Markets reduced their target price on ServiceNow from $497.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, October 24th. Capital One Financial initiated coverage on ServiceNow in a report on Monday, October 31st. They set an “overweight” rating and a $516.00 target price for the company. Finally, Mizuho increased their target price on ServiceNow from $480.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $537.26.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 407 shares of ServiceNow stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $399.72, for a total value of $162,686.04. Following the completion of the sale, the insider now owns 2,301 shares in the company, valued at approximately $919,755.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 4,262 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $439.10, for a total value of $1,871,444.20. Following the sale, the chief financial officer now owns 4,262 shares of the company’s stock, valued at approximately $1,871,444.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 407 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $399.72, for a total value of $162,686.04. Following the completion of the sale, the insider now directly owns 2,301 shares in the company, valued at approximately $919,755.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,510 shares of company stock worth $9,194,284. Insiders own 0.28% of the company’s stock.

ServiceNow Company Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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