ServiceNow, Inc. (NYSE:NOW) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,612 shares of the information technology services provider's stock after purchasing an additional 1,777 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of ServiceNow worth $207,484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cassady Schiller Wealth Management LLC increased its position in shares of ServiceNow by 44.0% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after purchasing an additional 11 shares during the last quarter. Plancorp LLC increased its position in shares of ServiceNow by 4.1% during the 4th quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock valued at $327,000 after purchasing an additional 12 shares during the last quarter. Capital Investment Advisory Services LLC increased its position in shares of ServiceNow by 2.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after purchasing an additional 12 shares during the last quarter. Kesler Norman & Wride LLC increased its position in shares of ServiceNow by 1.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock valued at $1,157,000 after purchasing an additional 13 shares during the last quarter. Finally, Sepio Capital LP increased its position in shares of ServiceNow by 3.8% during the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after purchasing an additional 13 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 1.0%

NOW traded up $9.86 on Wednesday, hitting $966.78. 984,145 shares of the company were exchanged, compared to its average volume of 1,486,825. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a market cap of $200.10 billion, a price-to-earnings ratio of 131.36, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $1,007.54 and a two-hundred day moving average price of $957.77.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm's revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.41 EPS. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 770 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the transaction, the director directly owned 3,205 shares in the company, valued at $2,985,842.10. This trade represents a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,601 shares of company stock worth $6,577,363. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NOW. Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. Cantor Fitzgerald lifted their price target on ServiceNow from $1,048.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Wednesday. Piper Sandler dropped their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and a consensus target price of $1,073.13.

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.