Canada Pension Plan Investment Board Has $500.26 Million Position in ServiceNow, Inc. (NYSE:NOW)

Canada Pension Plan Investment Board increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 59.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 635,919 shares of the information technology services provider’s stock after acquiring an additional 237,086 shares during the period. Canada Pension Plan Investment Board’s holdings in ServiceNow were worth $500,258,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in ServiceNow by 18.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares in the last quarter. Bank of New York Mellon Corp boosted its position in ServiceNow by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after buying an additional 34,855 shares in the last quarter. Fisher Asset Management LLC boosted its position in ServiceNow by 7.5% in the fourth quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after buying an additional 101,485 shares in the last quarter. Finally, Swedbank AB boosted its position in ServiceNow by 10.3% in the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after buying an additional 120,983 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE NOW opened at $919.25 on Friday. The firm has a market cap of $188.45 billion, a PE ratio of 98.32, a PEG ratio of 5.25 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $921.97. The company has a fifty day moving average price of $818.98 and a 200 day moving average price of $770.11.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 EPS. Research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOW. Guggenheim reiterated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. Piper Sandler boosted their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Citigroup boosted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $855.44.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.