Nordea Investment Management AB Has $633.46 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Nordea Investment Management AB grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 15.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 596,743 shares of the information technology services provider’s stock after purchasing an additional 81,180 shares during the quarter. ServiceNow comprises about 0.7% of Nordea Investment Management AB’s portfolio, making the stock its 29th biggest holding. Nordea Investment Management AB owned about 0.29% of ServiceNow worth $633,461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in NOW. State Street Corp lifted its stake in ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after acquiring an additional 226,023 shares during the last quarter. FMR LLC lifted its stake in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the last quarter. World Investment Advisors LLC grew its holdings in ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. Geode Capital Management LLC raised its stake in ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after buying an additional 78,378 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after buying an additional 615,797 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

NOW stock opened at $1,073.77 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The company’s 50-day moving average is $1,053.53 and its 200-day moving average is $913.45. The stock has a market capitalization of $221.20 billion, a PE ratio of 166.99, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 EPS. Equities research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Barclays increased their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Robert W. Baird upped their price target on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JMP Securities increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price objective on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,053.89.

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.