Tiger Global Management Reduces $64M in ServiceNow, Inc. ($NOW)
Key Points
- Tiger Global Management changed its ServiceNow, Inc. ($NOW) stake by 29.5% last quarter, cutting to 1,500,000 shares worth $153.27 million.
- Wall Street's consensus rating on $NOW is Strong Buy and an average price target of $141.86.
- $NOW last traded around $102.18.
Tiger Global Management reduced its position in ServiceNow, Inc. ($NOW) by 29.5% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,500,000 shares of ServiceNow, Inc. after selling 626,890 shares during the quarter. Tiger Global Management's holdings in ServiceNow, Inc. were worth $153.27 million as of its most recent filing.
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About ServiceNow, Inc.
ServiceNow, Inc. provides cloud-based solution for digital workflows in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company provides asset management, integrated risk management, IT service management, Operational Technology management, Security Operations, strategic portfolio management, IT operations management products; customer service management product; field service management applications; and sales and order management services. It also offers human resources delivery; legal and contract operations; workplace service delivery products; app engine product; automation engine; platform privacy and security product; and source-to-pay operations. In addition, the company provides RaptorDB, a database built to manage workloads at scale; ServiceNow Impact that provides customers with software tools, guided plans, and AI-driven recommendations; customer support; and workflow data fabric. It serves government, financial services, healthcare and life science, manufacturing, Public Sector, retail, technology, and Telecom sectors through service providers and resale partners. The company has a strategic collaboration with Cohesity, Inc. to develop, operate, and safeguard autonomous AI agents and data with enterprise-grade reliability. The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012. ServiceNow, Inc. was founded in 2004 and is headquartered in Santa Clara, California.
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