ServiceNow, Inc. (NYSE:NOW) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 155,078 shares of the information technology services provider’s stock after selling 834 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.08% of ServiceNow worth $121,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in ServiceNow during the first quarter worth about $897,908,000. Global Assets Advisory LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $403,034,000. Vanguard Group Inc. lifted its stake in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the period. AustralianSuper Pty Ltd purchased a new stake in ServiceNow during the second quarter worth $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

ServiceNow stock opened at $919.25 on Friday. 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 $188.45 billion, a P/E ratio of 98.32, a PEG ratio of 5.25 and a beta of 0.98. The company has a 50-day moving average price of $818.98 and a 200 day moving average price of $770.11. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $921.97.

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

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were 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 owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction 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 completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. KeyCorp dropped their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. BMO Capital Markets upped their target price on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a research note on Tuesday, July 23rd. Robert W. Baird increased their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company boosted their target price on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $855.44.

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.