Kentucky Retirement Systems Trims Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Kentucky Retirement Systems trimmed its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,351 shares of the information technology services provider's stock after selling 1,097 shares during the period. Kentucky Retirement Systems' holdings in ServiceNow were worth $12,835,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NOW. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow during the first quarter worth $25,000. Versant Capital Management Inc boosted its holdings in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock valued at $30,000 after acquiring an additional 39 shares during the period. Ridgewood Investments LLC purchased a new stake in ServiceNow during the second quarter worth about $32,000. Finally, DT Investment Partners LLC lifted its position in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after purchasing an additional 17 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NOW shares. 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 report on Thursday, October 24th. Needham & Company LLC lifted their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their target price on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Tuesday. Evercore ISI increased their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, Oppenheimer boosted their price objective on ServiceNow from $825.00 to $1,020.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $974.04.

ServiceNow Stock Performance

NYSE:NOW traded down $28.41 during trading hours on Friday, reaching $1,011.39. 1,498,472 shares of the company's stock were exchanged, compared to its average volume of 1,281,121. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,061.66. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $208.35 billion, a price-to-earnings ratio of 157.29, a P/E/G ratio of 6.00 and a beta of 0.98. The company has a 50-day moving average of $932.47 and a 200 day moving average of $823.24.

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 for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during 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 quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Research analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Activity

In other news, insider Nicholas Tzitzon sold 1,857 shares of the 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 transaction, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,027,502.32. This represents a 33.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,325 shares of company stock valued at $5,024,928. Company insiders own 0.25% of the company's stock.

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.