Teacher Retirement System of Texas reduced its position in ServiceNow Inc (NYSE:NOW) by 31.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,320 shares of the information technology services provider’s stock after selling 35,619 shares during the period. Teacher Retirement System of Texas’ holdings in ServiceNow were worth $19,059,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of NOW. Financial Gravity Wealth Inc. purchased a new stake in ServiceNow during the first quarter worth $25,000. Sandy Spring Bank increased its position in shares of ServiceNow by 118.0% during the 1st quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Spectrum Management Group Inc. acquired a new stake in shares of ServiceNow during the 1st quarter worth about $37,000. We Are One Seven LLC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $27,000. Finally, Claybrook Capital LLC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $28,000. Institutional investors own 94.02% of the company’s stock.
NOW traded up $4.92 on Thursday, hitting $278.88. 42,985 shares of the stock were exchanged, compared to its average volume of 1,989,338. ServiceNow Inc has a 12 month low of $147.63 and a 12 month high of $276.42. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $48.26 billion, a price-to-earnings ratio of 1,394.93, a P/E/G ratio of 19.18 and a beta of 1.45.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.10. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The business had revenue of $788.93 million during the quarter, compared to analysts’ expectations of $768.09 million. During the same quarter in the prior year, the business posted $0.56 earnings per share. ServiceNow’s revenue was up 33.9% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow Inc will post 0.48 EPS for the current fiscal year.
In related news, CFO Michael Scarpelli sold 29,553 shares of ServiceNow stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $237.88, for a total transaction of $7,030,067.64. Following the sale, the chief financial officer now directly owns 31,971 shares in the company, valued at $7,605,261.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 1,304 shares of ServiceNow stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $235.00, for a total value of $306,440.00. Following the sale, the director now owns 9,571 shares in the company, valued at $2,249,185. The disclosure for this sale can be found here. Insiders have sold 119,584 shares of company stock valued at $29,135,337 in the last ninety days. 1.00% of the stock is currently owned by company insiders.
NOW has been the subject of a number of recent analyst reports. Needham & Company LLC increased their target price on shares of ServiceNow to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Canaccord Genuity lifted their price objective on shares of ServiceNow from $240.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. UBS Group reissued a “buy” rating and issued a $230.00 target price (up previously from $214.00) on shares of ServiceNow in a research report on Thursday, January 31st. Jefferies Financial Group boosted their target price on shares of ServiceNow from $242.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $260.00 target price on shares of ServiceNow in a research report on Friday, February 1st. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $268.24.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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