ServiceNow, Inc. $NOW Stake Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in ServiceNow, Inc. (NYSE:NOW) by 0.3% in the second quarter, Holdings Channel reports. The institutional investor owned 69,617 shares of the information technology services provider’s stock after acquiring an additional 192 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in ServiceNow were worth $71,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow in the second quarter worth $30,000. LGT Financial Advisors LLC bought a new stake in shares of ServiceNow in the second quarter worth $32,000. Bogart Wealth LLC increased its stake in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in ServiceNow during the first quarter valued at $26,000. Finally, Richardson Financial Services Inc. increased its stake in ServiceNow by 50.0% during the second quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NOW. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Needham & Company LLC boosted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Jefferies Financial Group boosted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. UBS Group lowered their target price on shares of ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Finally, Guggenheim reiterated a “sell” rating and set a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,124.17.

Insiders Place Their Bets

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

ServiceNow Stock Performance

Shares of NOW opened at $929.77 on Friday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a market cap of $193.39 billion, a price-to-earnings ratio of 117.10, a price-to-earnings-growth ratio of 4.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a fifty day moving average of $917.85 and a 200-day moving average of $940.95.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.13 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.