New Mexico Educational Retirement Board Has $8.88 Million Position in ServiceNow, Inc. (NYSE:NOW)

New Mexico Educational Retirement Board increased its position in ServiceNow, Inc. (NYSE:NOW) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,650 shares of the information technology services provider’s stock after acquiring an additional 1,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in ServiceNow were worth $8,882,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Argonautica Private Wealth Management Inc. lifted its holdings in ServiceNow by 1.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after buying an additional 13 shares during the period. Wealth Management Partners LLC raised its holdings in ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of ServiceNow by 30.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 14 shares during the period. Trust Co. of Vermont raised its holdings in shares of ServiceNow by 8.6% during the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 15 shares during the period. Finally, Claro Advisors LLC raised its holdings in shares of ServiceNow by 3.6% during the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after acquiring an additional 15 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup raised their target price on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Wolfe Research reaffirmed an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research report on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research note on Tuesday, May 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research note on Tuesday, June 18th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $814.48.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the sale, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock valued at $3,997,012 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $12.54 during mid-day trading on Friday, reaching $786.67. 1,721,786 shares of the company traded hands, compared to its average volume of 1,451,259. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $161.27 billion, a PE ratio of 84.14, a PEG ratio of 4.93 and a beta of 0.96. The company’s 50 day moving average price is $726.55 and its 200-day moving average price is $741.06.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.41. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. On average, equities analysts expect that ServiceNow, Inc. will post 6.5 EPS for the current fiscal 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.