Maryland State Retirement & Pension System Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Maryland State Retirement & Pension System raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,851 shares of the information technology services provider’s stock after acquiring an additional 169 shares during the period. Maryland State Retirement & Pension System’s holdings in ServiceNow were worth $11,199,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC boosted its position in ServiceNow by 41.8% during the third quarter. Stratos Wealth Advisors LLC now owns 577 shares of the information technology services provider’s stock worth $323,000 after acquiring an additional 170 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in ServiceNow by 12.7% during the third quarter. Miracle Mile Advisors LLC now owns 2,020 shares of the information technology services provider’s stock worth $1,129,000 after buying an additional 228 shares during the last quarter. Telemus Capital LLC increased its stake in shares of ServiceNow by 7.6% in the 3rd quarter. Telemus Capital LLC now owns 1,317 shares of the information technology services provider’s stock worth $736,000 after acquiring an additional 93 shares during the last quarter. Chicago Capital LLC raised its stake in ServiceNow by 0.3% during the third quarter. Chicago Capital LLC now owns 58,391 shares of the information technology services provider’s stock worth $32,638,000 after purchasing an additional 162 shares during the period. Finally, Concord Wealth Partners raised its position in shares of ServiceNow by 5.9% during the 3rd quarter. Concord Wealth Partners now owns 556 shares of the information technology services provider’s stock valued at $311,000 after buying an additional 31 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler upped their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Stifel Nicolaus reiterated a “buy” rating and set a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Robert W. Baird increased their price objective on ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research note on Tuesday. Mizuho increased their price target on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Tuesday. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $807.88.

ServiceNow Price Performance

NYSE:NOW traded down $14.92 on Tuesday, reaching $711.64. The stock had a trading volume of 1,152,340 shares, compared to its average volume of 1,222,174. ServiceNow, Inc. has a 1-year low of $429.05 and a 1-year high of $815.32. The stock has a fifty day moving average price of $752.29 and a 200-day moving average price of $716.34. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $146.16 billion, a P/E ratio of 76.15, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were 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 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 can be accessed through this link. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction 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 firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,369 shares of company stock worth $8,538,300. 0.25% of the stock is currently owned by 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.