ServiceNow, Inc. (NYSE:NOW) Shares Acquired by National Pension Service

Key Points

• The National Pension Service increased its stake in ServiceNow, Inc. by 5.0%, acquiring an additional 19,046 shares, bringing its total ownership to 403,014 shares valued at approximately $320.86 million.
• Several analysts have adjusted their price targets for ServiceNow, with UBS Group lowering its target from $1,125 to $1,100, while most analysts maintain a consensus rating of "Moderate Buy" and a price target of $1,115.20.
• ServiceNow's recent earnings showed strong performance, with reported EPS of $4.09 and revenue of $3.22 billion, exceeding analyst estimates and reflecting a 22.4% year-over-year revenue growth.

National Pension Service lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 403,014 shares of the information technology services provider's stock after purchasing an additional 19,046 shares during the quarter. National Pension Service owned about 0.19% of ServiceNow worth $320,856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Edgemoor Investment Advisors Inc. grew its stake in ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after acquiring an additional 11 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after buying an additional 11 shares during the last quarter. one8zero8 LLC boosted its position in ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after purchasing an additional 11 shares during the last quarter. Capital Investment Advisory Services LLC boosted its position in ServiceNow by 2.1% in the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after purchasing an additional 12 shares during the last quarter. Finally, Argent Trust Co boosted its position in ServiceNow by 0.4% in the first quarter. Argent Trust Co now owns 3,363 shares of the information technology services provider's stock worth $2,677,000 after purchasing an additional 12 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the transaction, the insider owned 3,000 shares in the company, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 67 shares of ServiceNow stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $860.57, for a total transaction of $57,658.19. Following the transaction, the insider owned 3,027 shares in the company, valued at $2,604,945.39. The trade was a 2.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,738 shares of company stock worth $5,713,973. 0.38% of the stock is owned by corporate insiders.

ServiceNow Price Performance

Shares of NOW traded down $12.81 during mid-day trading on Thursday, reaching $850.49. 1,784,168 shares of the company's stock were exchanged, compared to its average volume of 1,709,971. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $973.65 and a two-hundred day simple moving average of $939.15. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a market cap of $176.90 billion, a price-to-earnings ratio of 107.12, a PEG ratio of 3.85 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the company posted $3.13 EPS. The company's revenue was up 22.4% on a year-over-year basis. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NOW. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada upped their target price on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Stifel Nicolaus upped their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC upped their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $1,115.20.

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.