Kentucky Retirement Systems Insurance Trust Fund Sells 513 Shares of ServiceNow, Inc. (NYSE:NOW)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in ServiceNow, Inc. (NYSE:NOW) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,099 shares of the information technology services provider’s stock after selling 513 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in ServiceNow were worth $5,455,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NOW. International Assets Investment Management LLC boosted its holdings in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Swedbank AB bought a new stake in ServiceNow in the 1st quarter valued at $897,908,000. AustralianSuper Pty Ltd bought a new stake in ServiceNow in the second quarter worth $218,786,000. Acadian Asset Management LLC raised its holdings in ServiceNow by 233.4% during the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after buying an additional 271,073 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of ServiceNow by 59.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider’s stock worth $500,258,000 after acquiring an additional 237,086 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the business’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 completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,325 shares of company stock valued at $5,024,928 over the last quarter. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JMP Securities raised their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Tuesday. Sanford C. Bernstein lifted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. KeyCorp increased their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, UBS Group boosted their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $974.04.

ServiceNow Stock Performance

NYSE NOW opened at $1,011.39 on Friday. The stock has a fifty day simple moving average of $932.47 and a 200-day simple moving average of $823.24. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock 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, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66.

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

ServiceNow 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.