California Public Employees Retirement System Sells 6,941 Shares of ServiceNow, Inc. (NYSE:NOW)

California Public Employees Retirement System trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 373,359 shares of the information technology services provider’s stock after selling 6,941 shares during the quarter. California Public Employees Retirement System owned 0.18% of ServiceNow worth $263,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after buying an additional 122,577 shares during the last quarter. FMR LLC grew its stake in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Jennison Associates LLC grew its stake in shares of ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after buying an additional 53,719 shares during the last quarter. Northern Trust Corp grew its stake in shares of ServiceNow by 1.8% during the third quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock worth $1,230,994,000 after buying an additional 39,259 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of ServiceNow by 3.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock worth $1,230,114,000 after buying an additional 72,570 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on NOW shares. Citigroup boosted their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Oppenheimer boosted their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Barclays boosted their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Finally, KeyCorp started coverage on shares of ServiceNow in a report on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $780.37.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,164 shares of company stock valued at $9,940,303. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.4 %

NOW stock traded up $17.28 during trading on Tuesday, reaching $739.23. The stock had a trading volume of 300,657 shares, compared to its average volume of 1,167,546. The company’s 50 day moving average is $762.90 and its two-hundred day moving average is $705.19. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a one year low of $427.68 and a one year high of $815.32. The company has a market capitalization of $151.82 billion, a price-to-earnings ratio of 87.90, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Equities research analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current year.

ServiceNow Company 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.