National Pension Service Raises Stake in ServiceNow, Inc. (NYSE:NOW)

National Pension Service increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 325,594 shares of the information technology services provider's stock after purchasing an additional 5,892 shares during the quarter. National Pension Service owned 0.16% of ServiceNow worth $230,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of ServiceNow by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider's stock valued at $9,923,653,000 after buying an additional 122,577 shares during the period. FMR LLC increased its stake in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider's stock valued at $2,256,407,000 after buying an additional 595,697 shares during the period. Jennison Associates LLC increased its stake in shares of ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider's stock valued at $1,781,195,000 after buying an additional 53,719 shares during the period. Northern Trust Corp increased its stake in shares of ServiceNow by 1.8% in the third quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider's stock valued at $1,230,994,000 after buying an additional 39,259 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of ServiceNow by 3.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider's stock valued at $1,230,114,000 after buying an additional 72,570 shares during the period. Institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

NYSE NOW traded up $2.13 during trading hours on Thursday, hitting $723.16. The company had a trading volume of 1,050,016 shares, compared to its average volume of 1,224,649. ServiceNow, Inc. has a 52 week low of $446.25 and a 52 week high of $815.32. The firm has a 50 day simple moving average of $750.45 and a 200 day simple moving average of $717.57. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The firm has a market capitalization of $148.52 billion, a price-to-earnings ratio of 77.32, a PEG ratio of 4.50 and a beta of 0.98.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NOW. Barclays increased their target price on shares of ServiceNow from $765.00 to $870.00 and gave the company an "overweight" rating in a research report on Tuesday, January 23rd. Morgan Stanley increased their price target on ServiceNow from $814.00 to $830.00 and gave the stock an "overweight" rating in a report on Thursday, April 25th. StockNews.com cut ServiceNow from a "buy" rating to a "hold" rating in a report on Friday, April 26th. Stifel Nicolaus reiterated a "buy" rating and issued a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Finally, Oppenheimer increased their target price on ServiceNow from $750.00 to $800.00 and gave the stock an "outperform" rating in a report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $807.88.

Insider Activity

In other news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Paul John Smith sold 1,180 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company's stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,369 shares of company stock worth $8,538,300. 0.25% of the stock is currently 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.