BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $10.75 Million Holdings in ServiceNow Inc (NOW)


BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in ServiceNow Inc (NYSE:NOW) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,975 shares of the information technology services provider’s stock after selling 6,246 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in ServiceNow were worth $10,750,000 as of its most recent filing with the Securities and Exchange Commission.


Other institutional investors and hedge funds have also made changes to their positions in the company. Three Peaks Capital Management LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $113,000. IHT Wealth Management LLC boosted its holdings in ServiceNow by 66.7% in the 1st quarter. IHT Wealth Management LLC now owns 750 shares of the information technology services provider’s stock valued at $121,000 after purchasing an additional 300 shares in the last quarter. Adviser Investments LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $166,000. Signaturefd LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $202,000. Finally, Boston Private Wealth LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $218,000. 97.38% of the stock is currently owned by institutional investors.


Get ServiceNow alerts:

A number of research firms have recently issued reports on NOW. Macquarie lifted their price target on shares of ServiceNow from $165.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, April 26th. Raymond James lifted their price target on shares of ServiceNow from $190.00 to $202.00 and gave the company a “strong-buy” rating in a research report on Tuesday, May 8th. Canaccord Genuity lifted their price target on shares of ServiceNow from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, April 26th. Deutsche Bank lifted their price target on shares of ServiceNow from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 31st. Finally, Stifel Nicolaus lifted their price target on shares of ServiceNow from $150.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, April 26th. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $174.44.


NOW stock opened at $185.34 on Friday. The company has a market capitalization of $31.82 billion, a price-to-earnings ratio of -176.51, a PEG ratio of 31.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.19 and a quick ratio of 1.19. ServiceNow Inc has a one year low of $99.01 and a one year high of $187.39.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 25th. The information technology services provider reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.19. The firm had revenue of $589.20 million during the quarter, compared to analysts’ expectations of $570.63 million. ServiceNow had a negative net margin of 4.65% and a negative return on equity of 10.63%. ServiceNow’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. sell-side analysts expect that ServiceNow Inc will post 0.13 EPS for the current year.


In other ServiceNow news, insider Chirantan Jitendra Desai sold 2,031 shares of ServiceNow stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $180.56, for a total value of $366,717.36. Following the completion of the sale, the insider now directly owns 503 shares of the company’s stock, valued at approximately $90,821.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of ServiceNow stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $161.25, for a total transaction of $16,125,000.00. Following the completion of the sale, the director now directly owns 195,076 shares of the company’s stock, valued at $31,456,005. The disclosure for this sale can be found here. Insiders sold a total of 477,477 shares of company stock valued at $81,566,093 over the last ninety days. 1.60% of the stock is owned by corporate insiders.


ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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:NOW).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Leave a Reply

Your email address will not be published. Required fields are marked *