ServiceNow, Inc. $NOW Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 17.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 39,256 shares of the information technology services provider’s stock after acquiring an additional 5,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in ServiceNow were worth $40,358,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NOW. Nuveen LLC purchased a new stake in shares of ServiceNow in the first quarter valued at $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of ServiceNow by 1,586.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock worth $742,965,000 after acquiring an additional 877,875 shares during the last quarter. Goldman Sachs Group Inc. increased its position in ServiceNow by 131.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after buying an additional 840,731 shares during the last quarter. Parnassus Investments LLC acquired a new position in ServiceNow during the first quarter worth $519,806,000. Finally, Amundi increased its position in ServiceNow by 61.9% during the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock worth $1,269,777,000 after buying an additional 626,623 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider directly owned 457 shares of the company’s stock, valued at $409,037.85. This trade represents a 76.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,980 shares of company stock valued at $16,049,017 in the last quarter. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NOW. DA Davidson increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. UBS Group lowered their target price on shares of ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. BMO Capital Markets increased their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. JMP Securities reissued a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Finally, Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,124.17.

ServiceNow Trading Up 1.8%

Shares of NYSE:NOW opened at $947.33 on Tuesday. The company has a market cap of $197.05 billion, a P/E ratio of 119.31, a P/E/G ratio of 4.20 and a beta of 0.92. The stock’s 50-day moving average is $918.98 and its 200-day moving average is $944.11. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

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.