ServiceNow, Inc. $NOW Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 9,980.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 154,496,061 shares of the information technology services provider’s stock after acquiring an additional 152,963,494 shares during the quarter. California State Teachers Retirement System owned about 0.15% of ServiceNow worth $15,338,369,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ameritas Advisory Services LLC boosted its holdings in ServiceNow by 376.8% in the second quarter. Ameritas Advisory Services LLC now owns 14,857 shares of the information technology services provider’s stock valued at $1,475,000 after purchasing an additional 11,741 shares in the last quarter. Guardian Wealth Advisors LLC NC raised its holdings in ServiceNow by 20.9% during the second quarter. Guardian Wealth Advisors LLC NC now owns 18,207 shares of the information technology services provider’s stock worth $1,808,000 after purchasing an additional 3,152 shares in the last quarter. Members Advisory Group LLC acquired a new stake in ServiceNow during the second quarter worth approximately $726,000. Yarger Wealth Strategies LLC lifted its position in shares of ServiceNow by 20.4% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 6,025 shares of the information technology services provider’s stock worth $649,000 after buying an additional 1,021 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC lifted its position in shares of ServiceNow by 153.6% during the 2nd quarter. Figure 8 Investment Strategies LLC now owns 18,986 shares of the information technology services provider’s stock worth $1,885,000 after buying an additional 11,498 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. TD Cowen reaffirmed a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a research report on Monday, August 17th. CLSA started coverage on shares of ServiceNow in a research report on Monday, July 20th. They issued an “underperform” rating and a $72.00 price target for the company. Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, July 1st. Evercore reaffirmed an “outperform” rating and set a $160.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Morgan Stanley set a $180.00 target price on ServiceNow in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.24.

Insiders Place Their Bets

In other ServiceNow news, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the sale, the insider directly owned 18,305 shares in the company, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Chamberlain sold 2,700 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the transaction, the director directly owned 43,990 shares in the company, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 14,081 shares of company stock worth $1,937,904. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Trading Up 0.0%

NYSE NOW opened at $141.31 on Tuesday. The stock has a market capitalization of $146.11 billion, a P/E ratio of 88.32, a P/E/G ratio of 2.57 and a beta of 0.97. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The firm has a 50-day moving average price of $118.03 and a 200 day moving average price of $108.20. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. Equities research analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.