New York State Teachers Retirement System Cuts Holdings in ServiceNow, Inc. (NYSE:NOW)

New York State Teachers Retirement System trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 3.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 182,176 shares of the information technology services provider’s stock after selling 6,111 shares during the period. New York State Teachers Retirement System’s holdings in ServiceNow were worth $162,936,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in shares of ServiceNow in the third quarter valued at approximately $490,000. Pathway Financial Advisers LLC grew its stake in ServiceNow by 41.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 906 shares of the information technology services provider’s stock valued at $810,000 after purchasing an additional 267 shares during the period. Mutual Advisors LLC increased its position in shares of ServiceNow by 8.5% during the 3rd quarter. Mutual Advisors LLC now owns 3,804 shares of the information technology services provider’s stock valued at $3,639,000 after purchasing an additional 299 shares during the last quarter. Adell Harriman & Carpenter Inc. bought a new stake in shares of ServiceNow during the 3rd quarter worth $288,000. Finally, Childress Capital Advisors LLC boosted its holdings in shares of ServiceNow by 8.0% in the 3rd quarter. Childress Capital Advisors LLC now owns 637 shares of the information technology services provider’s stock worth $570,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.4 %

ServiceNow stock traded up $3.66 on Wednesday, hitting $956.74. 66,348 shares of the stock traded hands, compared to its average volume of 1,282,200. ServiceNow, Inc. has a 1 year low of $564.90 and a 1 year high of $979.78. The firm has a market cap of $197.09 billion, a P/E ratio of 148.21, a price-to-earnings-growth ratio of 5.67 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $890.11 and its 200 day simple moving average is $800.19.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Mizuho increased their price objective on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Evercore ISI raised their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Truist Financial upped their price target on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $970.33.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jacqueline P. Canney sold 804 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,457,924. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,467 shares of company stock valued at $4,450,447 in the last quarter. 0.25% of the stock is owned by insiders.

ServiceNow 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.