Strategic Vision Investment Ltd Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Strategic Vision Investment Ltd lifted its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 45.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,699 shares of the information technology services provider’s stock after acquiring an additional 9,290 shares during the period. ServiceNow accounts for 10.9% of Strategic Vision Investment Ltd’s portfolio, making the stock its 3rd largest position. Strategic Vision Investment Ltd’s holdings in ServiceNow were worth $11,215,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Treasurer of the State of North Carolina lifted its position in shares of ServiceNow by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 85,905 shares of the information technology services provider’s stock valued at $32,439,000 after buying an additional 345 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of ServiceNow by 228.8% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,802 shares of the information technology services provider’s stock valued at $680,000 after buying an additional 1,254 shares during the last quarter. Boston Family Office LLC lifted its position in shares of ServiceNow by 17.0% during the third quarter. Boston Family Office LLC now owns 19,041 shares of the information technology services provider’s stock valued at $7,190,000 after buying an additional 2,761 shares during the last quarter. Lmcg Investments LLC lifted its position in shares of ServiceNow by 0.8% during the third quarter. Lmcg Investments LLC now owns 8,718 shares of the information technology services provider’s stock valued at $3,292,000 after buying an additional 73 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of ServiceNow by 30.4% during the third quarter. KBC Group NV now owns 164,863 shares of the information technology services provider’s stock valued at $62,254,000 after buying an additional 38,391 shares during the last quarter. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

ServiceNow stock traded up $1.80 during trading on Wednesday, reaching $456.93. The company had a trading volume of 493,361 shares, compared to its average volume of 2,014,193. The firm’s 50-day simple moving average is $405.30 and its 200 day simple moving average is $416.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 1.11. The firm has a market capitalization of $92.30 billion, a PE ratio of 284.46, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $337.00 and a 1-year high of $621.41.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NOW. BMO Capital Markets increased their price objective on shares of ServiceNow from $475.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. Citigroup decreased their price objective on shares of ServiceNow from $515.00 to $508.00 and set a “buy” rating for the company in a research report on Thursday, January 19th. Robert W. Baird decreased their price objective on shares of ServiceNow from $500.00 to $475.00 in a research report on Wednesday, December 21st. Oppenheimer increased their price objective on shares of ServiceNow from $450.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $485.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, January 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $517.47.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $387.01, for a total value of $2,554,266.00. Following the transaction, the director now owns 30,600 shares in the company, valued at approximately $11,842,506. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul John Smith sold 134 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $396.26, for a total transaction of $53,098.84. Following the transaction, the insider now owns 1,987 shares of the company’s stock, valued at approximately $787,368.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $387.01, for a total transaction of $2,554,266.00. Following the sale, the director now owns 30,600 shares of the company’s stock, valued at $11,842,506. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,960 shares of company stock worth $4,893,041. Corporate insiders own 0.28% of the company’s stock.

ServiceNow Company Profile

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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.