ServiceNow, Inc. (NYSE:NOW) Holdings Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,545 shares of the information technology services provider's stock after selling 2,566 shares during the quarter. Public Employees Retirement System of Ohio's holdings in ServiceNow were worth $94,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank acquired a new stake in ServiceNow during the 4th quarter worth approximately $2,603,360,000. Proficio Capital Partners LLC lifted its position in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after purchasing an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in shares of ServiceNow during the 4th quarter valued at $682,468,000. Price T Rowe Associates Inc. MD lifted its position in shares of ServiceNow by 6.8% during 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 acquiring an additional 509,467 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of ServiceNow by 36.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock valued at $1,940,464,000 after acquiring an additional 491,861 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of ServiceNow stock traded up $23.90 during trading on Tuesday, reaching $1,028.27. The company's stock had a trading volume of 380,922 shares, compared to its average volume of 1,832,904. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a market capitalization of $212.83 billion, a P/E ratio of 150.54, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The business has a 50 day moving average price of $884.98 and a 200-day moving average price of $974.97.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.41 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

NOW has been the subject of several recent analyst reports. Bank of America reduced their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Citigroup increased their price target on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Stifel Nicolaus upped their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group lowered their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 292 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $287,620.00. Following the completion of the sale, the chief financial officer now owns 11,198 shares of the company's stock, valued at approximately $11,030,030. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,674 shares of company stock valued at $2,510,213. 0.38% of the stock is owned by insiders.

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.