ServiceNow, Inc. (NYSE:NOW) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 23,632 shares of the information technology services provider’s stock after buying an additional 110 shares during the period. State of Alaska Department of Revenue’s holdings in ServiceNow were worth $18,016,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after purchasing an additional 122,577 shares during the last quarter. Jennison Associates LLC grew its position in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after buying an additional 53,719 shares during the last quarter. Norges Bank acquired a new position in ServiceNow in the 4th quarter valued at $1,648,259,000. Massachusetts Financial Services Co. MA raised its position in ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after buying an additional 81,028 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after acquiring an additional 271,153 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. William Blair reissued an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. UBS Group dropped their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Morgan Stanley raised their target price on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research note on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $813.28.

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Christopher Bedi sold 215 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock worth $3,997,012 over the last quarter. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Down 1.0 %

Shares of NYSE NOW traded down $7.84 during midday trading on Wednesday, reaching $786.28. 577,464 shares of the stock were exchanged, compared to its average volume of 1,274,989. The stock has a 50 day moving average price of $728.95 and a 200-day moving average price of $742.68. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $161.19 billion, a P/E ratio of 84.20, a P/E/G ratio of 4.93 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. Equities research analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal 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.