BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 11,836 Shares of ServiceNow, Inc. (NYSE:NOW)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 15.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,737 shares of the information technology services provider’s stock after selling 11,836 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in ServiceNow were worth $58,795,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Versant Capital Management Inc lifted its holdings in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. Truvestments Capital LLC acquired a new stake in ServiceNow during the third quarter worth approximately $30,000. Ridgewood Investments LLC bought a new stake in ServiceNow in the second quarter worth approximately $32,000. DT Investment Partners LLC lifted its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the period. Finally, American Capital Advisory LLC bought a new position in shares of ServiceNow during the 2nd quarter worth approximately $39,000. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOW has been the topic of a number of analyst reports. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $900.00 to $960.00 in a report on Monday, October 21st. JMP Securities upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Oppenheimer lifted their price objective on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Evercore ISI boosted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $989.07.

ServiceNow Price Performance

Shares of NOW opened at $1,050.62 on Friday. The firm has a fifty day simple moving average of $963.10 and a two-hundred day simple moving average of $846.02. The firm has a market cap of $216.43 billion, a PE ratio of 163.39, a P/E/G ratio of 5.98 and a beta of 0.98. 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 1-year low of $637.99 and a 1-year high of $1,072.84.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, equities analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,329 shares of company stock worth $20,547,241 in the last quarter. 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.