Kentucky Retirement Systems Sells 120 Shares of ServiceNow, Inc. (NYSE:NOW)

Kentucky Retirement Systems decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,448 shares of the information technology services provider’s stock after selling 120 shares during the period. Kentucky Retirement Systems’ holdings in ServiceNow were worth $12,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Gardner Lewis Asset Management L P raised its holdings in ServiceNow by 49.6% during the 2nd quarter. Gardner Lewis Asset Management L P now owns 6,039 shares of the information technology services provider’s stock worth $4,751,000 after purchasing an additional 2,001 shares during the last quarter. CCLA Investment Management boosted its stake in shares of ServiceNow by 1.1% in the 2nd quarter. CCLA Investment Management now owns 121,186 shares of the information technology services provider’s stock valued at $93,938,000 after purchasing an additional 1,280 shares during the last quarter. Elo Mutual Pension Insurance Co increased its position in shares of ServiceNow by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 18,826 shares of the information technology services provider’s stock worth $14,810,000 after buying an additional 95 shares during the period. Blair William & Co. IL raised its stake in ServiceNow by 1.4% during the second quarter. Blair William & Co. IL now owns 305,389 shares of the information technology services provider’s stock worth $240,241,000 after buying an additional 4,287 shares during the last quarter. Finally, Zega Financial LLC raised its stake in ServiceNow by 39.7% during the second quarter. Zega Financial LLC now owns 1,172 shares of the information technology services provider’s stock worth $922,000 after buying an additional 333 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $891.59 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $182.78 billion, a PE ratio of 95.36, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The stock’s fifty day simple moving average is $815.58 and its two-hundred day simple moving average is $769.06. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $899.71.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the firm earned $0.77 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. As a group, analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on NOW. BMO Capital Markets upped their price target on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler raised their target price on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Guggenheim reiterated a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. JMP Securities boosted their price target on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $855.44.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 in the last 90 days. 0.25% of the stock is currently owned by corporate 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.