Kentucky Retirement Systems Has $12.84 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Kentucky Retirement Systems cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 7.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,351 shares of the information technology services provider’s stock after selling 1,097 shares during the quarter. Kentucky Retirement Systems’ holdings in ServiceNow were worth $12,835,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M&G Plc bought a new stake in ServiceNow during the first quarter worth $11,030,000. Avidian Wealth Enterprises LLC raised its holdings in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC lifted its stake in ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares during the last quarter. AXA S.A. increased its position in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after buying an additional 4,271 shares during the last quarter. Finally, HWG Holdings LP bought a new stake in ServiceNow in the second quarter valued at approximately $2,679,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Barclays upped their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Sanford C. Bernstein raised their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Truist Financial boosted their price objective on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

Insider Activity

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,325 shares of company stock worth $5,024,928. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 2.7 %

Shares of NOW stock opened at $1,011.39 on Friday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66. The stock’s fifty day moving average price is $932.47 and its two-hundred day moving average price is $823.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $208.35 billion, a PE ratio of 157.29, a P/E/G ratio of 6.00 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Equities analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal 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.