Investment Management Corp of Ontario Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Investment Management Corp of Ontario lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 91.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,947 shares of the information technology services provider's stock after acquiring an additional 4,264 shares during the period. Investment Management Corp of Ontario's holdings in ServiceNow were worth $8,002,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider's stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of 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 buying an additional 935,848 shares in the last quarter. FMR LLC raised its stake in shares of ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock worth $5,014,302,000 after acquiring an additional 502,845 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings 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 worth $277,935,000 after acquiring an additional 280,210 shares during the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $218,786,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

Shares of NOW stock traded up $8.19 during trading hours on Tuesday, hitting $1,056.62. The company's stock had a trading volume of 1,282,994 shares, compared to its average volume of 1,280,072. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,072.84. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $217.66 billion, a PE ratio of 164.33, a price-to-earnings-growth ratio of 6.02 and a beta of 0.99. The company has a 50 day moving average of $968.22 and a 200 day moving average of $851.60.

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

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 66 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

NOW has been the topic of a number of analyst reports. Robert W. Baird boosted their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Needham & Company LLC boosted their target price on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a "buy" rating in a report on Monday, November 25th. Truist Financial upped their price target on ServiceNow from $780.00 to $900.00 and gave the stock a "hold" rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price objective on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Royal Bank of Canada boosted their price target on ServiceNow from $985.00 to $1,045.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $999.07.

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.