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

Teachers Retirement System of The State of Kentucky cut its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,844 shares of the information technology services provider's stock after selling 6,994 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in ServiceNow were worth $52,840,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NOW. Avidian Wealth Enterprises LLC increased its stake in shares of ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after purchasing an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its stake in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after purchasing an additional 10 shares during the period. Institute for Wealth Management LLC. boosted its stake in ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after purchasing an additional 11 shares during the period. TBH Global Asset Management LLC raised its position in shares of ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after buying an additional 11 shares during the last quarter. Finally, Onefund LLC boosted its position in shares of ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after acquiring an additional 11 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. Needham & Company LLC increased their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. UBS Group reaffirmed a "buy" rating and set a $1,025.00 price target (up from $900.00) on shares of ServiceNow in a research note on Thursday. Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. Canaccord Genuity Group dropped their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Evercore ISI raised their price target on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,035.39.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $128.54 during trading on Thursday, reaching $941.24. 4,297,528 shares of the company traded hands, compared to its average volume of 1,500,742. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $194.84 billion, a P/E ratio of 137.17, a PEG ratio of 4.51 and a beta of 1.08. The firm's fifty day simple moving average is $840.59 and its 200 day simple moving average is $967.11.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $3.78 by ($1.47). ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. As a group, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has initiated a share repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Activity

In other ServiceNow news, Director Jeffrey A. Miller sold 2,282 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the transaction, the director now owns 40,638 shares of the company's stock, valued at approximately $41,883,148.32. The trade was a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,080,123.85. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock worth $19,853,273 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

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.