ServiceNow Inc (NOW) Stake Lessened by APG Asset Management N.V.

APG Asset Management N.V. lessened its position in shares of ServiceNow Inc (NYSE:NOW) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,940 shares of the information technology services provider’s stock after selling 1,800 shares during the quarter. APG Asset Management N.V. owned 0.06% of ServiceNow worth $18,058,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors grew its position in ServiceNow by 75.0% in the third quarter. Capital Research Global Investors now owns 5,257,914 shares of the information technology services provider’s stock worth $1,028,606,000 after acquiring an additional 2,254,082 shares during the period. TIAA CREF Investment Management LLC grew its position in ServiceNow by 27.0% in the third quarter. TIAA CREF Investment Management LLC now owns 3,275,482 shares of the information technology services provider’s stock worth $640,783,000 after acquiring an additional 697,046 shares during the period. Capital International Investors purchased a new position in ServiceNow in the third quarter worth approximately $480,663,000. Jennison Associates LLC grew its position in ServiceNow by 282.1% in the fourth quarter. Jennison Associates LLC now owns 2,406,077 shares of the information technology services provider’s stock worth $428,402,000 after acquiring an additional 1,776,380 shares during the period. Finally, Coatue Management LLC grew its position in ServiceNow by 38.6% in the fourth quarter. Coatue Management LLC now owns 2,129,852 shares of the information technology services provider’s stock worth $379,220,000 after acquiring an additional 592,759 shares during the period. Institutional investors and hedge funds own 97.32% of the company’s stock.

In other ServiceNow news, Director Ronald E. F. Codd sold 100,000 shares of ServiceNow stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $220.08, for a total value of $22,008,000.00. Following the sale, the director now owns 78,428 shares of the company’s stock, valued at approximately $17,260,434.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Schneider sold 3,414 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $236.02, for a total transaction of $805,772.28. Following the sale, the insider now directly owns 44,259 shares of the company’s stock, valued at $10,446,009.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,071 shares of company stock worth $53,256,230. Corporate insiders own 1.60% of the company’s stock.

Several research analysts recently weighed in on the company. UBS Group reiterated a “buy” rating and issued a $230.00 price objective (up from $214.00) on shares of ServiceNow in a research report on Thursday, January 31st. Jefferies Financial Group raised their price target on ServiceNow to $242.00 and gave the stock a “buy” rating in a research report on Thursday, January 31st. Canaccord Genuity restated a “buy” rating and set a $240.00 price target (up from $210.00) on shares of ServiceNow in a research report on Thursday, January 31st. KeyCorp restated an “overweight” rating and set a $250.00 price target (up from $210.00) on shares of ServiceNow in a research report on Thursday, January 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $243.00 price target (up from $224.00) on shares of ServiceNow in a research report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $235.78.

Shares of NOW traded down $0.85 during midday trading on Wednesday, reaching $242.70. 2,161,210 shares of the stock were exchanged, compared to its average volume of 1,979,055. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.16. ServiceNow Inc has a twelve month low of $147.63 and a twelve month high of $251.65. The stock has a market capitalization of $44.17 billion, a P/E ratio of 1,213.50, a price-to-earnings-growth ratio of 26.77 and a beta of 1.44.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 30th. The information technology services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.14. ServiceNow had a positive return on equity of 3.95% and a negative net margin of 1.02%. The firm had revenue of $715.44 million for the quarter, compared to analyst estimates of $717.73 million. During the same quarter last year, the company posted $0.37 earnings per share. The business’s revenue was up 30.3% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow Inc will post 0.32 EPS for the current fiscal year.

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About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

Further Reading: What are Institutional Investors?

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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