BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $10.82 Million Position in ServiceNow Inc (NOW)

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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in ServiceNow Inc (NYSE:NOW) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,759 shares of the information technology services provider’s stock after selling 2,216 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in ServiceNow were worth $10,824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Redwood Investments LLC raised its holdings in shares of ServiceNow by 25.4% in the 2nd quarter. Redwood Investments LLC now owns 15,642 shares of the information technology services provider’s stock worth $2,698,000 after acquiring an additional 3,165 shares during the last quarter. CIBC Asset Management Inc increased its stake in ServiceNow by 1.4% in the 2nd quarter. CIBC Asset Management Inc now owns 30,657 shares of the information technology services provider’s stock valued at $5,287,000 after buying an additional 436 shares during the last quarter. Standard Life Aberdeen plc purchased a new stake in ServiceNow in the 2nd quarter valued at about $1,654,000. Private Advisor Group LLC purchased a new stake in ServiceNow in the 2nd quarter valued at about $268,000. Finally, Cabot Wealth Management Inc. increased its stake in ServiceNow by 73.2% in the 2nd quarter. Cabot Wealth Management Inc. now owns 21,662 shares of the information technology services provider’s stock valued at $3,736,000 after buying an additional 9,157 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

Shares of NOW stock opened at $200.23 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. ServiceNow Inc has a 12-month low of $110.14 and a 12-month high of $201.00. The company has a market cap of $34.44 billion, a PE ratio of -190.70, a P/E/G ratio of 45.95 and a beta of 1.14.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. ServiceNow had a negative net margin of 4.16% and a negative return on equity of 7.48%. The company had revenue of $631.05 million during the quarter, compared to analyst estimates of $616.68 million. During the same quarter last year, the business posted $0.22 EPS. ServiceNow’s quarterly revenue was up 40.8% compared to the same quarter last year. equities analysts forecast that ServiceNow Inc will post 0.16 earnings per share for the current fiscal year.

In other news, Director Anita M. Sands sold 3,179 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $182.87, for a total transaction of $581,343.73. Following the completion of the sale, the director now owns 9,105 shares in the company, valued at approximately $1,665,031.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 420 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $178.46, for a total transaction of $74,953.20. Following the sale, the director now owns 12,284 shares of the company’s stock, valued at approximately $2,192,202.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,949 shares of company stock valued at $53,830,885. 1.60% of the stock is currently owned by company insiders.

Several research firms have commented on NOW. Credit Suisse Group increased their price objective on shares of ServiceNow from $180.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. JMP Securities increased their price objective on shares of ServiceNow to $220.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Morgan Stanley increased their price objective on shares of ServiceNow from $172.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Royal Bank of Canada reiterated a “buy” rating and issued a $205.00 price objective on shares of ServiceNow in a research note on Thursday, July 26th. Finally, Northland Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of ServiceNow in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $196.12.

About ServiceNow

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. It offers customer and facilities service management, orchestration core, service mapping, cloud and portfolio management, edge encryption, performance analytics, service portal designer, visual task boards, and configuration management database.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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