Retirement Systems of Alabama Has $31.92 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Retirement Systems of Alabama trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,180 shares of the information technology services provider’s stock after selling 946 shares during the quarter. Retirement Systems of Alabama’s holdings in ServiceNow were worth $31,919,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NOW. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of ServiceNow by 7.8% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 513 shares of the information technology services provider’s stock worth $287,000 after purchasing an additional 37 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of ServiceNow by 63.2% during the third quarter. Valeo Financial Advisors LLC now owns 1,780 shares of the information technology services provider’s stock worth $995,000 after purchasing an additional 689 shares during the period. Golden State Equity Partners boosted its holdings in shares of ServiceNow by 7.1% during the third quarter. Golden State Equity Partners now owns 420 shares of the information technology services provider’s stock worth $235,000 after purchasing an additional 28 shares during the period. Avestar Capital LLC boosted its holdings in shares of ServiceNow by 19.5% during the third quarter. Avestar Capital LLC now owns 582 shares of the information technology services provider’s stock worth $325,000 after purchasing an additional 95 shares during the period. Finally, Lake Street Financial LLC boosted its holdings in shares of ServiceNow by 8.3% during the third quarter. Lake Street Financial LLC now owns 1,915 shares of the information technology services provider’s stock worth $1,060,000 after purchasing an additional 147 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOW. Royal Bank of Canada raised their price target on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Thursday. Truist Financial lifted their target price on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Robert W. Baird lifted their target price on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $807.28.

ServiceNow Trading Down 0.1 %

Shares of NOW stock opened at $723.00 on Monday. ServiceNow, Inc. has a 1 year low of $428.97 and a 1 year high of $815.32. The firm’s fifty day simple moving average is $759.21 and its 200 day simple moving average is $710.01. The firm has a market capitalization of $148.49 billion, a P/E ratio of 77.39, a price-to-earnings-growth ratio of 4.83 and a beta of 0.97. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling

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

About ServiceNow

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.