USS Investment Management Ltd Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

USS Investment Management Ltd decreased its position in ServiceNow, Inc. (NYSE:NOWGet Rating) by 4.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,568 shares of the information technology services provider’s stock after selling 2,183 shares during the period. USS Investment Management Ltd’s holdings in ServiceNow were worth $22,145,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NOW. Edgewood Management LLC purchased a new stake in ServiceNow during the first quarter worth $1,515,281,000. Fisher Asset Management LLC lifted its holdings in ServiceNow by 57.9% during the first quarter. Fisher Asset Management LLC now owns 1,413,079 shares of the information technology services provider’s stock worth $786,930,000 after buying an additional 518,349 shares during the period. Capital International Investors lifted its holdings in ServiceNow by 18.1% during the first quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock worth $1,786,783,000 after buying an additional 491,835 shares during the period. Vanguard Group Inc. lifted its holdings in ServiceNow by 1.9% during the first quarter. Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock worth $9,074,862,000 after buying an additional 306,106 shares during the period. Finally, Tiger Global Management LLC lifted its holdings in ServiceNow by 10.8% during the first quarter. Tiger Global Management LLC now owns 2,445,005 shares of the information technology services provider’s stock worth $1,361,599,000 after buying an additional 238,765 shares during the period. Hedge funds and other institutional investors own 87.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NOW. BMO Capital Markets lowered their target price on ServiceNow from $497.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, October 24th. Cowen increased their price objective on ServiceNow from $510.00 to $520.00 in a report on Thursday, October 27th. KeyCorp decreased their price objective on ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Mizuho increased their price objective on ServiceNow from $480.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 27th. Finally, Canaccord Genuity Group decreased their price objective on ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $537.26.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 407 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $399.72, for a total transaction of $162,686.04. Following the sale, the insider now directly owns 2,301 shares of the company’s stock, valued at approximately $919,755.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $385.46, for a total transaction of $2,544,036.00. Following the sale, the director now directly owns 31,800 shares of the company’s stock, valued at approximately $12,257,628. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 407 shares of the stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $399.72, for a total transaction of $162,686.04. Following the sale, the insider now directly owns 2,301 shares in the company, valued at $919,755.72. The disclosure for this sale can be found here. Insiders have sold a total of 22,510 shares of company stock valued at $9,194,284 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

Shares of NOW stock traded up $9.09 during mid-day trading on Thursday, hitting $409.37. 1,041,047 shares of the stock were exchanged, compared to its average volume of 2,056,484. The firm has a fifty day moving average of $390.46 and a 200 day moving average of $436.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.33. ServiceNow, Inc. has a 52-week low of $337.00 and a 52-week high of $679.62. The company has a market cap of $82.69 billion, a PE ratio of 413.51, a price-to-earnings-growth ratio of 8.09 and a beta of 0.99.

ServiceNow Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

See Also

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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