PGGM Investments Invests $500,000 in ServiceNow, Inc. (NYSE:NOW)

PGGM Investments acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 708 shares of the information technology services provider’s stock, valued at approximately $500,000.

Several other large investors have also recently bought and sold shares of NOW. International Assets Investment Management LLC increased its stake in ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after purchasing an additional 820,465 shares in the last quarter. FMR LLC boosted its position in ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after acquiring an additional 595,697 shares during the last quarter. Jennison Associates LLC grew its stake in shares of ServiceNow by 23.0% during the 3rd quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after acquiring an additional 461,614 shares in the last quarter. Cerity Partners LLC lifted its position in shares of ServiceNow by 1,073.7% in the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after purchasing an additional 371,648 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in ServiceNow during the third quarter worth $135,075,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $721.90 on Tuesday. The company has a 50 day moving average of $758.35 and a 200-day moving average of $711.15. The company has a market cap of $148.26 billion, a PE ratio of 77.21, a price-to-earnings-growth ratio of 4.83 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $428.97 and a 1-year high of $815.32. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,369 shares of company stock valued at $8,538,300. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

NOW has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a report on Tuesday, April 23rd. Jefferies Financial Group increased their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. KeyCorp cut their target price on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, BMO Capital Markets decreased their target price on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $807.28.

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.