Strs Ohio Sells 7,476 Shares of ServiceNow, Inc. $NOW

Strs Ohio trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 3.2% in the second quarter, HoldingsChannel reports. The firm owned 225,736 shares of the information technology services provider’s stock after selling 7,476 shares during the quarter. ServiceNow accounts for about 0.9% of Strs Ohio’s holdings, making the stock its 15th largest holding. Strs Ohio’s holdings in ServiceNow were worth $232,075,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Haverford Trust Co boosted its stake in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after acquiring an additional 10 shares during the last quarter. Ascent Group LLC boosted its stake in ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after acquiring an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. boosted its stake in ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after acquiring an additional 11 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after acquiring an additional 11 shares during the last quarter. Finally, one8zero8 LLC boosted its stake in ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after acquiring an additional 11 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

ServiceNow stock opened at $911.75 on Thursday. The firm’s 50 day simple moving average is $920.43 and its 200 day simple moving average is $946.08. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $189.64 billion, a PE ratio of 114.83, a price-to-earnings-growth ratio of 4.23 and a beta of 0.92. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.61. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.72 EPS. As a group, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company’s stock, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,980 shares of company stock worth $16,049,017 in the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NOW. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. BMO Capital Markets upped their price target on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Zacks Research upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, JMP Securities restated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued 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, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,131.07.

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.