ServiceNow, Inc. $NOW Shares Bought by Employees Retirement System of Texas

Employees Retirement System of Texas lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 33.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 95,569 shares of the information technology services provider’s stock after buying an additional 24,077 shares during the period. Employees Retirement System of Texas’ holdings in ServiceNow were worth $87,950,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kilter Group LLC bought a new position in shares of ServiceNow during the second quarter worth about $25,000. IAG Wealth Partners LLC boosted its stake in ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the period. Bogart Wealth LLC boosted its stake in ServiceNow by 93.8% during the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 15 shares during the period. Total Investment Management Inc. bought a new position in ServiceNow in the 2nd quarter worth about $31,000. Finally, Albion Financial Group UT grew its position in ServiceNow by 78.9% in the 3rd quarter. Albion Financial Group UT now owns 34 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 15 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. Mizuho cut their price target on ServiceNow from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Capital One Financial lowered their target price on ServiceNow from $188.00 to $161.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. UBS Group set a $115.00 target price on ServiceNow in a research note on Thursday, January 29th. Oppenheimer reissued an “outperform” rating and issued a $175.00 price target (down from $200.00) on shares of ServiceNow in a research note on Wednesday, January 21st. Finally, Argus raised ServiceNow to a “strong-buy” rating in a report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.06.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 3,696 shares of ServiceNow stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the transaction, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. The trade was a 31.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the sale, the insider directly owned 26,314 shares in the company, valued at approximately $2,781,652.94. This trade represents a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 16,237 shares of company stock worth $1,697,162. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Down 2.5%

Shares of ServiceNow stock opened at $112.76 on Friday. ServiceNow, Inc. has a 12-month low of $98.00 and a 12-month high of $211.48. The firm has a market capitalization of $117.95 billion, a PE ratio of 67.60, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average is $119.93 and its 200-day moving average is $155.79.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter last year, the business posted $0.73 EPS. ServiceNow’s revenue was up 20.7% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.