Kentucky Retirement Systems Sells 1,097 Shares of ServiceNow, Inc. (NYSE:NOW)

Kentucky Retirement Systems decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 7.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,351 shares of the information technology services provider’s stock after selling 1,097 shares during the period. Kentucky Retirement Systems’ holdings in ServiceNow were worth $12,835,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in NOW. Quent Capital LLC lifted its position in ServiceNow by 4.1% during the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after acquiring an additional 30 shares during the last quarter. M&G Plc bought a new stake in ServiceNow in the 1st quarter valued at $11,030,000. Nicolet Advisory Services LLC grew its position in ServiceNow by 26.8% during the first quarter. Nicolet Advisory Services LLC now owns 600 shares of the information technology services provider’s stock worth $469,000 after buying an additional 127 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of ServiceNow by 411.5% during the 1st quarter. Intech Investment Management LLC now owns 5,938 shares of the information technology services provider’s stock worth $4,527,000 after purchasing an additional 4,777 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after buying an additional 271,073 shares during the period. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Oppenheimer raised their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. KeyCorp raised their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $900.00 to $960.00 in a report on Monday, October 21st. Barclays upped their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Truist Financial boosted their price target on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $974.04.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This represents a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,325 shares of company stock valued at $5,024,928 over the last 90 days. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

NOW stock opened at $1,011.39 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The business’s fifty day moving average is $932.47 and its 200-day moving average is $823.24. The company has a market cap of $208.35 billion, a P/E ratio of 157.29, a price-to-earnings-growth ratio of 6.00 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.21 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

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.