New Mexico Educational Retirement Board Buys 1,000 Shares of ServiceNow, Inc. (NYSE:NOW)

New Mexico Educational Retirement Board raised its stake in ServiceNow, Inc. (NYSE:NOW) by 9.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,650 shares of the information technology services provider’s stock after buying an additional 1,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in ServiceNow were worth $8,882,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NOW. Fox Hill Wealth Management bought a new stake in shares of ServiceNow in the first quarter worth $505,000. Vicus Capital acquired a new position in ServiceNow during the first quarter worth $306,000. Chemung Canal Trust Co. increased its holdings in ServiceNow by 85.1% during the first quarter. Chemung Canal Trust Co. now owns 670 shares of the information technology services provider’s stock worth $511,000 after buying an additional 308 shares during the last quarter. Investment Research & Advisory Group Inc. increased its holdings in ServiceNow by 142.9% during the first quarter. Investment Research & Advisory Group Inc. now owns 119 shares of the information technology services provider’s stock worth $91,000 after buying an additional 70 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in ServiceNow by 45.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 2,389 shares of the information technology services provider’s stock worth $1,821,000 after buying an additional 743 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, insider Paul John Smith sold 602 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total transaction of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 602 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares in the company, valued at $2,785,725.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,530 shares of company stock valued at $3,997,012. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW traded up $12.54 during mid-day trading on Friday, reaching $786.67. The stock had a trading volume of 1,721,786 shares, compared to its average volume of 1,451,259. The firm has a 50 day moving average price of $726.55 and a two-hundred day moving average price of $741.06. The stock has a market capitalization of $161.27 billion, a P/E ratio of 84.14, a P/E/G ratio of 4.93 and a beta of 0.96. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. As a group, analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NOW. JMP Securities restated a “market outperform” rating and set a $825.00 target price on shares of ServiceNow in a report on Tuesday, May 7th. Jefferies Financial Group upped their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. KeyCorp decreased their price objective on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $814.48.

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.