ServiceNow, Inc. (NYSE:NOW) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NOW. Bank of New York Mellon Corp raised its holdings in ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider's stock valued at $1,203,157,000 after buying an additional 34,855 shares during the period. Swedbank AB increased its position in shares of ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider's stock valued at $1,021,666,000 after acquiring an additional 120,983 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider's stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of ServiceNow by 21.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider's stock worth $750,513,000 after acquiring an additional 168,734 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of ServiceNow by 1.8% during the 2nd quarter. Clearbridge Investments LLC now owns 677,942 shares of the information technology services provider's stock worth $533,316,000 after purchasing an additional 11,979 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other news, insider Nicholas Tzitzon sold 1,857 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 33.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,325 shares of company stock worth $5,024,928. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NOW shares. Piper Sandler upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Barclays increased their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. BMO Capital Markets lifted their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an "outperform" rating in a research report on Thursday, October 10th. Stifel Nicolaus increased their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, Robert W. Baird raised their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $974.04.

ServiceNow Stock Performance

NYSE NOW traded down $28.41 during trading hours on Friday, hitting $1,011.39. The company had a trading volume of 1,498,472 shares, compared to its average volume of 1,281,121. The business has a 50 day moving average of $932.47 and a 200-day moving average of $823.24. The company has a market cap of $208.35 billion, a PE ratio of 157.29, a price-to-earnings-growth ratio of 6.00 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,061.66. 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 (NYSE:NOW - Get Free Report) last announced its 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 firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business's revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

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.