Public Sector Pension Investment Board Grows Position in ServiceNow, Inc. (NYSE:NOW)

Public Sector Pension Investment Board raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,084 shares of the information technology services provider's stock after acquiring an additional 1,200 shares during the period. Public Sector Pension Investment Board's holdings in ServiceNow were worth $8,125,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Catalyst Financial Partners LLC lifted its position in ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider's stock worth $1,025,000 after purchasing an additional 11 shares during the period. First Affirmative Financial Network lifted its holdings in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider's stock worth $801,000 after acquiring an additional 12 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider's stock worth $84,000 after acquiring an additional 12 shares in the last quarter. BluePointe Capital Management LLC increased its stake in ServiceNow by 0.6% in the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider's stock valued at $1,801,000 after acquiring an additional 12 shares during the last quarter. Finally, Morling Financial Advisors LLC raised its position in ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider's stock valued at $415,000 after purchasing an additional 13 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO William R. Mcdermott sold 12,271 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This 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 20,329 shares of company stock worth $20,547,241. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NOW shares. Royal Bank of Canada raised their target price on ServiceNow from $985.00 to $1,045.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Citigroup raised their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Stifel Nicolaus boosted their target price on ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Evercore ISI raised their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, TD Cowen increased their price objective on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a "buy" rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $989.07.

ServiceNow Trading Up 0.8 %

NYSE NOW traded up $8.04 during trading hours on Friday, hitting $1,049.44. 583,092 shares of the company's stock were exchanged, compared to its average volume of 1,281,032. The firm has a market cap of $216.18 billion, a price-to-earnings ratio of 163.39, a PEG ratio of 5.98 and a beta of 0.98. The stock has a 50-day simple moving average of $963.10 and a 200 day simple moving average of $846.02. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,072.84.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping 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 company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm posted $1.21 EPS. The company's quarterly revenue was up 22.2% on a year-over-year basis. On average, equities analysts forecast 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.