Dragoneer Investment Group LLC Holds Stake in Servicenow INC (NOW)

December 10, 2017 - By Marguerite Chambers

Investors sentiment decreased to 1.23 in Q2 2017. Its down 0.12, from 1.35 in 2017Q1. It turned negative, as 47 investors sold NOW shares while 104 reduced holdings. 71 funds opened positions while 114 raised stakes. 167.38 million shares or 5.53% more from 158.61 million shares in 2017Q1 were reported. 50,000 are owned by Nationwide Fund Advsrs. Asset Management One Limited accumulated 277,365 shares. 3.86M were accumulated by Carmignac Gestion. Seatown Holding Pte stated it has 67,677 shares. Point72 Asia (Hong Kong) Limited has 35 shares. Renaissance Limited Liability Corporation reported 1.71 million shares. Sumitomo Mitsui Tru Holding holds 0.07% or 470,590 shares. Parametric Assocs Lc owns 136,932 shares for 0.02% of their portfolio. Toronto Dominion Comml Bank has invested 0% of its portfolio in ServiceNow, Inc. (NYSE:NOW). Dnb Asset As holds 17,842 shares. L & S holds 0.96% or 51,350 shares in its portfolio. San Francisco Sentry Group Inc (Ca) owns 60 shares. Two Sigma Limited Company reported 4,000 shares or 0.08% of all its holdings. Waddell & Reed Financial holds 0.32% of its portfolio in ServiceNow, Inc. (NYSE:NOW) for 1.37 million shares. Wells Fargo And Com Mn has invested 0.05% of its portfolio in ServiceNow, Inc. (NYSE:NOW).

Dragoneer Investment Group Llc increased its stake in Servicenow Inc (NOW) by 67.68% based on its latest 2017Q2 regulatory filing with the SEC. Dragoneer Investment Group Llc bought 201,000 shares as the company’s stock rose 7.07% with the market. The institutional investor held 497,977 shares of the technology company at the end of 2017Q2, valued at $52.79 million, up from 296,977 at the end of the previous reported quarter. Dragoneer Investment Group Llc who had been investing in Servicenow Inc for a number of months, seems to be bullish on the $21.04 billion market cap company. The stock increased 0.67% or $0.81 during the last trading session, reaching $121.81. About 1.02 million shares traded. ServiceNow, Inc. (NYSE:NOW) has risen 42.37% since December 10, 2016 and is uptrending. It has outperformed by 25.67% the S&P500.

Dragoneer Investment Group Llc, which manages about $450.59 million and $581.35M US Long portfolio, decreased its stake in Blackline Inc by 104,100 shares to 1.13M shares, valued at $40.40M in 2017Q2, according to the filing. It also reduced its holding in Alibaba Group Hldg Ltd (NYSE:BABA) by 25,068 shares in the quarter, leaving it with 222,145 shares, and cut its stake in Appfolio Inc.

Another recent and important ServiceNow, Inc. (NYSE:NOW) news was published by Bizjournals.com which published an article titled: “ServiceNow CFO scales with integrity and humility” on December 01, 2017.

ServiceNow, Inc. (NYSE:NOW) Ratings Coverage

Among 40 analysts covering ServiceNow Inc (NYSE:NOW), 34 have Buy rating, 0 Sell and 6 Hold. Therefore 85% are positive. ServiceNow Inc had 93 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Monday, July 17 by Mizuho. The rating was maintained by Robert W. Baird on Thursday, August 31 with “Buy”. The stock has “Buy” rating by Robert W. Baird on Friday, October 6. RBC Capital Markets maintained it with “Top Pick” rating and $110 target in Thursday, April 27 report. Mizuho downgraded it to “Neutral” rating and $65 target in Thursday, January 28 report. The firm earned “Outperform” rating on Friday, June 24 by Cowen & Co. The firm earned “Outperform” rating on Thursday, April 21 by Robert W. Baird. BMO Capital Markets maintained ServiceNow, Inc. (NYSE:NOW) on Thursday, April 27 with “Outperform” rating. BMO Capital Markets maintained it with “Buy” rating and $127.0 target in Thursday, October 12 report. The rating was maintained by KeyBanc Capital Markets on Friday, October 6 with “Buy”.

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