Healthcare of Ontario Pension Plan Trust Fund Purchases 280,210 Shares of ServiceNow, Inc. (NYSE:NOW)

Healthcare of Ontario Pension Plan Trust Fund lifted its position in ServiceNow, Inc. (NYSE:NOW) by 917.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 310,754 shares of the information technology services provider’s stock after purchasing an additional 280,210 shares during the quarter. ServiceNow comprises about 0.7% of Healthcare of Ontario Pension Plan Trust Fund’s investment portfolio, making the stock its 29th biggest position. Healthcare of Ontario Pension Plan Trust Fund owned about 0.15% of ServiceNow worth $277,935,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NOW. Quent Capital LLC increased its stake in ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after acquiring an additional 30 shares during the last quarter. EntryPoint Capital LLC increased its stake in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in ServiceNow by 31.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 3,859 shares of the information technology services provider’s stock worth $2,942,000 after acquiring an additional 931 shares during the last quarter. Redwood Investment Management LLC bought a new stake in ServiceNow during the first quarter worth approximately $254,000. Finally, Creekmur Asset Management LLC bought a new stake in ServiceNow during the first quarter worth approximately $25,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

NYSE NOW opened at $1,070.07 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day moving average price is $955.40 and its 200 day moving average price is $841.01. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,072.84. The company has a market cap of $220.43 billion, a price-to-earnings ratio of 166.42, a PEG ratio of 6.04 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the firm earned $1.21 EPS. The firm’s revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,787 shares of company stock valued at $17,841,028. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on NOW shares. Royal Bank of Canada upped their target price on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Robert W. Baird upped their target price on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein upped their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, JMP Securities boosted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $989.07.

About ServiceNow

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.