ServiceNow, Inc. (NYSE:NOW) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,838 shares of the information technology services provider's stock after selling 2,495 shares during the period. 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.

Other large investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC boosted its holdings in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. International Assets Investment Management LLC boosted its position 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 purchasing an additional 1,183,739 shares during the period. Bank of Montreal Can increased its position in ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider's stock worth $1,206,178,000 after buying an additional 935,848 shares during the period. Wellington Management Group LLP boosted its holdings in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock valued at $2,834,797,000 after acquiring an additional 615,797 shares during the period. Finally, FMR LLC grew its position in shares of ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock worth $5,014,302,000 after acquiring an additional 502,845 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 300 shares of the business's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now owns 10,467 shares in the company, valued at approximately $10,968,892.65. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $20,861,626 in the last three months. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Up 1.7 %

ServiceNow stock traded up $19.34 during trading on Wednesday, hitting $1,147.18. The company's stock had a trading volume of 1,236,072 shares, compared to its average volume of 1,280,549. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $236.32 billion, a price-to-earnings ratio of 178.42, a P/E/G ratio of 6.45 and a beta of 0.99. The stock's fifty day moving average is $992.26 and its 200 day moving average is $864.29. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. As a group, equities research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent analyst reports. Mizuho raised their target price on shares of ServiceNow from $980.00 to $1,070.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Piper Sandler increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their price objective on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. Wells Fargo & Company raised their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Finally, KeyCorp upped their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an "overweight" rating in a research note 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 given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,022.37.

ServiceNow Company 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.