Texas Permanent School Fund Corp Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Texas Permanent School Fund Corp grew its stake in ServiceNow, Inc. (NYSE:NOW) by 0.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,375 shares of the information technology services provider’s stock after purchasing an additional 180 shares during the period. Texas Permanent School Fund Corp’s holdings in ServiceNow were worth $32,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position 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 purchasing an additional 122,577 shares in the last quarter. Jennison Associates LLC grew its position 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 purchasing an additional 53,719 shares in the last quarter. Norges Bank purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $1,648,259,000. Massachusetts Financial Services Co. MA grew its position in shares of ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after purchasing an additional 81,028 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of ServiceNow by 18.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 602 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was 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 approximately $2,785,725.25. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock valued at $3,997,012 over the last quarter. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Monday. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Guggenheim reiterated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday. Wolfe Research reiterated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a report on Friday, May 10th. Finally, KeyCorp decreased their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $812.60.

ServiceNow Stock Up 0.8 %

NYSE:NOW traded up $5.99 during trading hours on Thursday, hitting $749.14. The company’s stock had a trading volume of 1,088,791 shares, compared to its average volume of 1,291,310. The stock has a market capitalization of $153.57 billion, a P/E ratio of 79.90, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. The stock has a fifty day moving average of $735.85 and a 200-day moving average of $745.37. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.41 by $0.41. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. On average, equities analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

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.