State of Alaska Department of Revenue Has $19.22 Million Stake in ServiceNow, Inc. (NYSE:NOW)

State of Alaska Department of Revenue lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 24,137 shares of the information technology services provider's stock after selling 735 shares during the period. State of Alaska Department of Revenue's holdings in ServiceNow were worth $19,216,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NOW. Brighton Jones LLC boosted its stake in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $48,802,000. Nations Financial Group Inc. IA ADV bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $228,000. Principal Securities Inc. grew its holdings in shares of ServiceNow by 7.8% in the fourth quarter. Principal Securities Inc. now owns 2,814 shares of the information technology services provider's stock valued at $2,983,000 after acquiring an additional 204 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of ServiceNow by 134.8% in the fourth quarter. Allworth Financial LP now owns 2,613 shares of the information technology services provider's stock valued at $2,940,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Down 0.1%

NOW opened at $1,003.83 on Wednesday. The stock has a market cap of $207.77 billion, a PE ratio of 136.39, a P/E/G ratio of 4.63 and a beta of 0.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The business's fifty day simple moving average is $953.73 and its 200 day simple moving average is $972.40.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.41 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 3,027 shares in the company, valued at $3,096,621. This represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 84 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $85,932.00. Following the sale, the chief financial officer now owns 11,218 shares of the company's stock, valued at approximately $11,476,014. The trade was a 0.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 over the last 90 days. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOW. Royal Bank Of Canada upped their target price on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. TD Securities reiterated a "buy" rating and issued a $1,100.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. William Blair reiterated an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Bank of America dropped their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

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.

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