Teachers Retirement System of The State of Kentucky Sells 2,495 Shares of ServiceNow, Inc. (NYSE:NOW)

Teachers Retirement System of The State of Kentucky trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,838 shares of the information technology services provider’s stock after selling 2,495 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ServiceNow were worth $50,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Coldstream Capital Management Inc. boosted its position in shares of ServiceNow by 65.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,915 shares of the information technology services provider’s stock valued at $5,647,000 after acquiring an additional 2,342 shares in the last quarter. RB Capital Management LLC boosted its holdings in ServiceNow by 1.8% during the third quarter. RB Capital Management LLC now owns 1,223 shares of the information technology services provider’s stock valued at $1,094,000 after purchasing an additional 22 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after purchasing an additional 78,378 shares in the last quarter. Resources Management Corp CT ADV raised its holdings in shares of ServiceNow by 1.6% in the 3rd quarter. Resources Management Corp CT ADV now owns 1,286 shares of the information technology services provider’s stock worth $1,150,000 after buying an additional 20 shares in the last quarter. Finally, Abel Hall LLC raised its holdings in shares of ServiceNow by 4.9% in the 3rd quarter. Abel Hall LLC now owns 281 shares of the information technology services provider’s stock worth $251,000 after buying an additional 13 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock worth $20,861,626 over the last three months. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

NOW has been the subject of several recent analyst reports. Canaccord Genuity Group increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. Robert W. Baird upped their price target on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Evercore ISI lifted their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,022.37.

ServiceNow Stock Performance

NYSE NOW opened at $1,128.51 on Wednesday. The firm’s fifty day moving average price is $987.03 and its two-hundred day moving average price is $861.55. The stock has a market cap of $232.47 billion, a PE ratio of 175.51, a PEG ratio of 6.45 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,147.37.

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