ServiceNow Inc (NOW) Shares Bought by Marshall Wace North America L.P.

Marshall Wace North America L.P. increased its stake in shares of ServiceNow Inc (NYSE:NOW) by 97.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,128 shares of the information technology services provider’s stock after purchasing an additional 265,858 shares during the quarter. Marshall Wace North America L.P.’s holdings in ServiceNow were worth $105,470,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors bought a new stake in ServiceNow during the 3rd quarter worth approximately $480,663,000. Capital Research Global Investors grew its holdings in ServiceNow by 75.0% during the 3rd quarter. Capital Research Global Investors now owns 5,257,914 shares of the information technology services provider’s stock worth $1,028,606,000 after acquiring an additional 2,254,082 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in ServiceNow by 27.0% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,275,482 shares of the information technology services provider’s stock worth $640,783,000 after acquiring an additional 697,046 shares during the last quarter. PointState Capital LP grew its holdings in ServiceNow by 167.3% during the 3rd quarter. PointState Capital LP now owns 1,107,880 shares of the information technology services provider’s stock worth $216,735,000 after acquiring an additional 693,419 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in ServiceNow by 3,565.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 599,661 shares of the information technology services provider’s stock worth $3,051,000 after acquiring an additional 583,301 shares during the last quarter. Institutional investors and hedge funds own 94.10% of the company’s stock.

A number of research firms have weighed in on NOW. Argus boosted their target price on shares of ServiceNow to $215.00 and gave the stock a “buy” rating in a report on Wednesday, August 15th. They noted that the move was a valuation call. Needham & Company LLC began coverage on shares of ServiceNow in a report on Monday, October 22nd. They set a “buy” rating and a $224.00 target price on the stock. ValuEngine lowered shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 20th. Jefferies Financial Group began coverage on shares of ServiceNow in a report on Monday, October 1st. They set a “buy” rating and a $240.00 target price on the stock. Finally, Macquarie set a $210.00 target price on shares of ServiceNow and gave the stock a “buy” rating in a report on Friday, October 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. ServiceNow currently has a consensus rating of “Buy” and a consensus price target of $203.44.

In other news, insider Michael Scarpelli sold 39,827 shares of the company’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $179.09, for a total value of $7,132,617.43. Following the sale, the insider now directly owns 75,341 shares of the company’s stock, valued at approximately $13,492,819.69. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO David Schneider sold 10,252 shares of the company’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $164.09, for a total transaction of $1,682,250.68. Following the completion of the sale, the executive now directly owns 45,821 shares in the company, valued at $7,518,767.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,718 shares of company stock worth $37,324,308. Insiders own 1.60% of the company’s stock.

Shares of NYSE:NOW traded up $6.75 during trading on Thursday, reaching $187.60. The stock had a trading volume of 2,678,288 shares, compared to its average volume of 1,972,245. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.26. ServiceNow Inc has a 52 week low of $117.36 and a 52 week high of $206.29. The firm has a market cap of $32.43 billion, a P/E ratio of -178.67, a P/E/G ratio of 33.21 and a beta of 1.28.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 24th. The information technology services provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.61. ServiceNow had a negative net margin of 2.52% and a negative return on equity of 2.93%. The company had revenue of $673.10 million for the quarter, compared to analyst estimates of $659.41 million. As a group, sell-side analysts anticipate that ServiceNow Inc will post 0.17 earnings per share for the current year.

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ServiceNow Company 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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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