Board of the Pension Protection Fund Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Board of the Pension Protection Fund boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 350.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 900 shares of the information technology services provider's stock after buying an additional 700 shares during the quarter. Board of the Pension Protection Fund's holdings in ServiceNow were worth $717,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after acquiring an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. FMR LLC lifted its holdings in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after purchasing an additional 272,506 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after purchasing an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research reports. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Barclays set a $1,085.00 price objective on shares of ServiceNow in a research note on Wednesday, May 7th. DA Davidson began coverage on shares of ServiceNow in a research note on Wednesday. They issued a "buy" rating and a $1,150.00 target price on the stock. BMO Capital Markets boosted their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, Guggenheim upped their price target on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,065.32.

Insider Buying and Selling

In other news, Director Deborah Black sold 598 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the transaction, the director now owns 428 shares of the company's stock, valued at approximately $402,418.44. This trade represents a 58.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $3,096,621. This trade represents a 2.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,716 shares of company stock valued at $6,611,245. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Up 1.2%

ServiceNow stock traded up $12.12 during trading on Friday, hitting $1,023.56. The company had a trading volume of 1,514,258 shares, compared to its average volume of 1,484,917. The stock has a market cap of $211.86 billion, a price-to-earnings ratio of 139.07, a price-to-earnings-growth ratio of 4.62 and a beta of 0.95. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company's 50 day simple moving average is $980.58 and its 200-day simple moving average is $967.95.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business posted $3.41 earnings per share. The company's quarterly revenue was up 18.6% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal 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.