Marshall Wace North America L.P. raised its holdings in ServiceNow Inc (NYSE:NOW) by 97.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 539,128 shares of the information technology services provider’s stock after buying an additional 265,858 shares during the period. Marshall Wace North America L.P. owned 0.30% of ServiceNow worth $105,470,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors grew its position in shares of ServiceNow by 75.0% in the 3rd quarter. Capital Research Global Investors now owns 5,257,914 shares of the information technology services provider’s stock valued at $1,028,606,000 after acquiring an additional 2,254,082 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of ServiceNow by 27.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,275,482 shares of the information technology services provider’s stock valued at $640,783,000 after acquiring an additional 697,046 shares during the period. Capital International Investors bought a new position in shares of ServiceNow in the 3rd quarter valued at about $480,663,000. OppenheimerFunds Inc. grew its position in shares of ServiceNow by 30.2% in the 3rd quarter. OppenheimerFunds Inc. now owns 1,871,776 shares of the information technology services provider’s stock valued at $366,177,000 after acquiring an additional 434,571 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of ServiceNow by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,746,627 shares of the information technology services provider’s stock valued at $341,701,000 after acquiring an additional 94,008 shares during the period. Hedge funds and other institutional investors own 94.10% of the company’s stock.

In other ServiceNow news, insider Chirantan Jitendra Desai sold 2,031 shares of ServiceNow stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $199.84, for a total value of $405,875.04. Following the completion of the sale, the insider now owns 7,174 shares in the company, valued at approximately $1,433,652.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic B. Luddy sold 32,500 shares of ServiceNow stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $196.45, for a total transaction of $6,384,625.00. Following the completion of the sale, the director now owns 282,383 shares of the company’s stock, valued at approximately $55,474,140.35. The disclosure for this sale can be found here. Insiders have sold a total of 212,718 shares of company stock valued at $37,324,308 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Shares of NOW stock traded up $6.75 during midday trading on Thursday, hitting $187.60. 2,678,288 shares of the company were exchanged, compared to its average volume of 1,972,245. The company has a market capitalization of $32.43 billion, a price-to-earnings ratio of -178.67, a PEG ratio of 33.21 and a beta of 1.28. 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.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 24th. The information technology services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.07 by $0.61. The business had revenue of $673.10 million during the quarter, compared to the consensus estimate of $659.41 million. ServiceNow had a negative net margin of 2.52% and a negative return on equity of 2.93%. Sell-side analysts forecast that ServiceNow Inc will post 0.17 EPS for the current year.

A number of research analysts have recently commented on NOW shares. Morgan Stanley decreased their price objective on shares of ServiceNow from $198.00 to $188.00 and set an “overweight” rating for the company in a research report on Tuesday, October 23rd. ValuEngine raised shares of ServiceNow from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 1st. Barclays lifted their price objective on shares of ServiceNow from $198.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Macquarie set a $210.00 price objective on shares of ServiceNow and gave the company a “buy” rating in a research report on Friday, October 12th. Finally, Jefferies Financial Group started coverage on shares of ServiceNow in a research report on Monday, October 1st. They issued a “buy” rating and a $240.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $203.44.

TRADEMARK VIOLATION WARNING: “Marshall Wace North America L.P. Acquires 265,858 Shares of ServiceNow Inc (NOW)” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2018/12/06/marshall-wace-north-america-l-p-acquires-265858-shares-of-servicenow-inc-now.html.

ServiceNow 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.

Recommended Story: What are the Benefits of Index Funds?

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow Inc (NYSE:NOW).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.