Varma Mutual Pension Insurance Co Trims Position in ServiceNow, Inc. (NYSE:NOW)

Varma Mutual Pension Insurance Co lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOWGet Rating) by 15.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the information technology services provider’s stock after selling 3,784 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in ServiceNow were worth $9,510,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of ServiceNow by 29.3% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 18,414 shares of the information technology services provider’s stock worth $8,756,000 after purchasing an additional 4,170 shares during the period. Guardian Capital LP lifted its stake in shares of ServiceNow by 16.1% during the 2nd quarter. Guardian Capital LP now owns 1,607 shares of the information technology services provider’s stock worth $764,000 after purchasing an additional 223 shares during the period. Carmignac Gestion purchased a new position in shares of ServiceNow during the 2nd quarter worth $36,202,000. CDAM UK Ltd purchased a new position in shares of ServiceNow in the 2nd quarter worth $70,116,000. Finally, Artisan Partners Limited Partnership purchased a new position in shares of ServiceNow in the 2nd quarter worth $67,659,000. Hedge funds and other institutional investors own 87.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on NOW shares. KeyCorp cut their target price on ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. JMP Securities lowered their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a report on Thursday, July 28th. Royal Bank of Canada lowered their price target on ServiceNow from $550.00 to $500.00 and set an “outperform” rating for the company in a report on Monday, October 17th. Credit Suisse Group lowered their target price on ServiceNow from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, October 27th. Finally, Moffett Nathanson upgraded ServiceNow from a “market perform” rating to an “outperform” rating and set a $549.00 target price for the company in a research note on Thursday, October 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $537.26.

ServiceNow Stock Performance

NYSE NOW traded up $9.09 during trading hours on Thursday, reaching $409.37. The company’s stock had a trading volume of 1,041,047 shares, compared to its average volume of 2,056,484. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $390.46 and a 200 day simple moving average of $436.28. ServiceNow, Inc. has a 52 week low of $337.00 and a 52 week high of $679.62. The stock has a market cap of $82.69 billion, a PE ratio of 413.51, a PEG ratio of 8.09 and a beta of 0.99.

Insiders Place Their Bets

In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $385.46, for a total value of $2,544,036.00. Following the transaction, the director now owns 31,800 shares of the company’s stock, valued at $12,257,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Paul John Smith sold 407 shares of ServiceNow stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $399.72, for a total transaction of $162,686.04. Following the sale, the insider now owns 2,301 shares of the company’s stock, valued at $919,755.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $385.46, for a total value of $2,544,036.00. Following the sale, the director now directly owns 31,800 shares in the company, valued at approximately $12,257,628. The disclosure for this sale can be found here. Insiders have sold 22,510 shares of company stock valued at $9,194,284 over the last quarter. Insiders own 0.28% of the company’s stock.

ServiceNow Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOWGet Rating).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.