Healthcare of Ontario Pension Plan Trust Fund Purchases 280,210 Shares of ServiceNow, Inc. (NYSE:NOW)

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 917.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,754 shares of the information technology services provider's stock after acquiring an additional 280,210 shares during the period. ServiceNow makes up 0.7% of Healthcare of Ontario Pension Plan Trust Fund's holdings, making the stock its 29th largest position. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.15% of ServiceNow worth $277,935,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Creekmur Asset Management LLC acquired a new position in ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc grew its stake in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC raised its holdings in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Truvestments Capital LLC acquired a new stake in ServiceNow during the third quarter valued at approximately $30,000. Finally, Ridgewood Investments LLC bought a new stake in ServiceNow during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW traded down $28.65 during mid-day trading on Wednesday, hitting $1,041.42. 976,988 shares of the company's stock traded hands, compared to its average volume of 1,284,065. The firm has a market capitalization of $214.53 billion, a price-to-earnings ratio of 166.42, a price-to-earnings-growth ratio of 6.04 and a beta of 0.98. The firm has a 50 day moving average of $955.40 and a two-hundred day moving average of $841.01. 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 12 month low of $637.99 and a 12 month high of $1,072.84.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating 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 analysts' expectations of $2.75 billion. During the same period in the prior year, the business earned $1.21 earnings per share. ServiceNow's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on ServiceNow from $900.00 to $975.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Canaccord Genuity Group upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Citigroup lifted their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Jefferies Financial Group upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Finally, Mizuho boosted their price target on shares of ServiceNow from $980.00 to $1,070.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. One 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $989.07.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 76 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now owns 11,000 shares of the company's stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,329 shares of company stock valued at $20,547,241 in the last ninety days. Company 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.