ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 59.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 635,919 shares of the information technology services provider’s stock after buying an additional 237,086 shares during the quarter. Canada Pension Plan Investment Board owned 0.31% of ServiceNow worth $500,258,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after purchasing an additional 271,153 shares during the period. Bank of New York Mellon Corp boosted its stake in ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after purchasing an additional 34,855 shares during the period. Fisher Asset Management LLC boosted its stake in ServiceNow by 7.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock worth $1,023,315,000 after purchasing an additional 101,485 shares during the period. Finally, Swedbank AB boosted its stake in ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after purchasing an additional 120,983 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW opened at $919.25 on Friday. The company has a market capitalization of $188.45 billion, a PE ratio of 98.32, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $921.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company’s fifty day moving average price is $818.98 and its 200 day moving average price is $770.11.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm posted $0.77 EPS. The business’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NOW shares. Truist Financial raised their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. KeyCorp decreased their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 target price on shares of ServiceNow in a research note on Tuesday, July 23rd. Royal Bank of Canada lifted their target price on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Citigroup lifted their target price on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $855.44.

ServiceNow Company 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.