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

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 17.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,256 shares of the information technology services provider’s stock after buying an additional 5,800 shares during the quarter. 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.

Several other hedge funds have also made changes to their positions in NOW. Bogart Wealth LLC boosted its holdings in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow during the first quarter worth about $26,000. WASHINGTON TRUST Co increased its position in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of ServiceNow during the second quarter worth about $30,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of ServiceNow during the second quarter worth about $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In related news, Director Anita M. Sands sold 1,097 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director owned 9,307 shares of the company’s stock, valued at $8,516,928.77. The trade was a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on 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. The trade was a 28.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,980 shares of company stock valued at $16,049,017 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NOW. BMO Capital Markets boosted their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Bank of America boosted their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Cowen reissued a “buy” rating on shares of ServiceNow in a report on Friday. Needham & Company LLC boosted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,124.17.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $947.33 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $918.98 and a 200-day simple moving average of $944.11. The company has a market cap of $197.05 billion, a PE ratio of 119.31, a P/E/G ratio of 4.20 and a beta of 0.92. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

About ServiceNow

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.