ServiceNow, Inc. (NOW) Shares Bought by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2,311.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,674 shares of the information technology services provider’s stock after buying an additional 99,375 shares during the period. Canada Pension Plan Investment Board owned about 0.06% of ServiceNow worth $12,185,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in NOW. Cornerstone Advisors Inc. lifted its holdings in ServiceNow by 29.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after buying an additional 245 shares during the last quarter. Barrett Asset Management LLC bought a new position in ServiceNow during the 2nd quarter worth approximately $117,000. SeaBridge Investment Advisors LLC bought a new position in ServiceNow during the 3rd quarter worth approximately $118,000. Rockefeller Financial Services Inc. bought a new position in ServiceNow during the 3rd quarter worth approximately $138,000. Finally, Crow Point Partners LLC lifted its holdings in ServiceNow by 8.8% during the 2nd quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after buying an additional 107 shares during the last quarter.
In related news, CRO David Schneider sold 16,349 shares of ServiceNow stock in a transaction on Monday, August 14th. The stock was sold at an average price of $107.25, for a total value of $1,753,430.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Scarpelli sold 75,000 shares of ServiceNow stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total value of $8,076,000.00. Following the completion of the transaction, the insider now owns 252,368 shares in the company, valued at $27,174,986.24. The disclosure for this sale can be found here. Insiders sold a total of 1,038,849 shares of company stock worth $121,440,605 over the last 90 days. Insiders own 3.30% of the company’s stock.
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ServiceNow, Inc. (NOW) opened at $125.98 on Friday. ServiceNow, Inc. has a 1 year low of $72.80 and a 1 year high of $129.56. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.73 and a current ratio of 1.66.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. The company had revenue of $498.20 million for the quarter, compared to analysts’ expectations of $491.62 million. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. analysts anticipate that ServiceNow, Inc. will post -0.35 earnings per share for the current year.
A number of research analysts have commented on NOW shares. Moffett Nathanson started coverage on ServiceNow in a report on Wednesday, September 6th. They set a “buy” rating on the stock. BidaskClub downgraded ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Robert W. Baird reaffirmed a “buy” rating and set a $120.00 target price on shares of ServiceNow in a report on Friday, September 1st. Summit Redstone reaffirmed a “buy” rating and set a $135.00 target price on shares of ServiceNow in a report on Monday, September 18th. Finally, Deutsche Bank AG increased their target price on ServiceNow from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have issued a buy rating and three have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $130.50.
ServiceNow Company Profile
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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