Healthcare of Ontario Pension Plan Trust Fund Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in ServiceNow, Inc. (NYSE:NOWGet Rating) by 50.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,746 shares of the information technology services provider’s stock after selling 3,760 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ServiceNow were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Architects Inc lifted its holdings in shares of ServiceNow by 5.9% in the 1st quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after buying an additional 21 shares during the period. Tortoise Investment Management LLC lifted its holdings in shares of ServiceNow by 55.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 22 shares during the period. Institute for Wealth Management LLC. lifted its holdings in shares of ServiceNow by 0.7% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,484 shares of the information technology services provider’s stock valued at $1,657,000 after buying an additional 23 shares during the period. HHM Wealth Advisors LLC lifted its holdings in shares of ServiceNow by 21.8% in the 2nd quarter. HHM Wealth Advisors LLC now owns 134 shares of the information technology services provider’s stock valued at $64,000 after buying an additional 24 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of ServiceNow by 7.0% in the 1st quarter. Gerber Kawasaki Wealth & Investment Management now owns 382 shares of the information technology services provider’s stock valued at $212,000 after buying an additional 25 shares during the period. 87.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Paul John Smith sold 134 shares of ServiceNow stock in a transaction on Monday, November 14th. The stock was sold at an average price of $396.26, for a total value of $53,098.84. Following the completion of the sale, the insider now owns 1,987 shares of the company’s stock, valued at $787,368.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other ServiceNow news, insider Lara Caimi sold 726 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $416.03, for a total transaction of $302,037.78. Following the completion of the sale, the insider now owns 43 shares of the company’s stock, valued at $17,889.29. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 134 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $396.26, for a total value of $53,098.84. Following the sale, the insider now directly owns 1,987 shares of the company’s stock, valued at approximately $787,368.62. The disclosure for this sale can be found here. Insiders sold a total of 22,510 shares of company stock valued at $9,194,284 over the last quarter. Company insiders own 0.28% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $409.37 on Friday. The company has a market cap of $82.69 billion, a P/E ratio of 413.51, a P/E/G ratio of 8.09 and a beta of 0.99. 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 business has a fifty day simple moving average of $389.50 and a 200-day simple moving average of $436.09.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Piper Sandler reduced their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Moffett Nathanson raised ServiceNow from a “market perform” rating to an “outperform” rating and set a $549.00 price objective for the company in a report on Thursday, October 27th. Royal Bank of Canada reduced their price objective on ServiceNow from $550.00 to $500.00 and set an “outperform” rating for the company in a report on Monday, October 17th. Wolfe Research reduced their price objective on ServiceNow from $600.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, October 27th. Finally, Capital One Financial assumed coverage on ServiceNow in a report on Monday, October 31st. They set an “overweight” rating and a $516.00 price objective for the company. Two 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $537.26.

ServiceNow Company 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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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