Oregon Public Employees Retirement Fund Boosts Stock Holdings in ServiceNow, Inc. $NOW

Oregon Public Employees Retirement Fund raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.1% during the second quarter, Holdings Channel.com reports. The firm owned 17,877 shares of the information technology services provider’s stock after purchasing an additional 200 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in ServiceNow were worth $18,379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after acquiring an additional 30 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of ServiceNow by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider’s stock worth $2,689,000 after purchasing an additional 308 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of ServiceNow by 13.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 1,570 shares of the information technology services provider’s stock worth $1,251,000 after purchasing an additional 187 shares during the period. Stock Yards Bank & Trust Co. increased its holdings in shares of ServiceNow by 79.7% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 496 shares of the information technology services provider’s stock valued at $395,000 after purchasing an additional 220 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of ServiceNow in the first quarter valued at about $124,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on NOW shares. JMP Securities restated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Oppenheimer reissued an “outperform” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. DA Davidson raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Bank of America lifted their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $888.63 on Monday. The company has a market cap of $184.84 billion, a P/E ratio of 111.92, a P/E/G ratio of 4.00 and a beta of 0.92. The business has a fifty day simple moving average of $909.21 and a 200-day simple moving average of $932.99. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the company earned $3.13 EPS. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 1,097 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the transaction, the director owned 9,307 shares of the company’s stock, valued at approximately $8,516,928.77. This represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the transaction, the insider owned 457 shares in the company, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 in the last quarter. Insiders own 0.38% of the company’s stock.

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.