284,802 Shares in ServiceNow, Inc. $NOW Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, Holdings Channel.com reports. The firm bought 284,802 shares of the information technology services provider’s stock, valued at approximately $28,275,000.

Several other hedge funds have also recently added to or reduced their stakes in NOW. CBIZ Investment Advisory Services LLC increased its position in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares during the period. Blueline Advisors LLC acquired a new stake in ServiceNow during the 4th quarter worth about $25,000. Measured Wealth Private Client Group LLC raised its position in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Wealth Watch Advisors INC lifted its stake in shares of ServiceNow by 432.3% in the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Finally, Bank of Jackson Hole Trust grew its stake in ServiceNow by 534.6% during the fourth quarter. Bank of Jackson Hole Trust now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 139 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America increased their price target on ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $248.00 target price (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. TD Cowen reiterated a “buy” rating and issued a $140.00 price target on shares of ServiceNow in a report on Monday, August 17th. Finally, Evercore reissued an “outperform” rating and issued a $160.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $144.24.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 2,034 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the sale, the director owned 43,990 shares of the company’s stock, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,081 shares of company stock valued at $1,937,904 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Stock Up 0.0%

NOW stock opened at $141.31 on Tuesday. The firm has a market capitalization of $146.11 billion, a PE ratio of 88.32, a P/E/G ratio of 2.57 and a beta of 0.97. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The stock’s 50 day moving average is $118.03 and its 200-day moving average is $108.20.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.ServiceNow’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.