ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in ServiceNow, Inc. (NYSE:NOW) by 74.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,884 shares of the information technology services provider’s stock after acquiring an additional 3,364 shares during the quarter. Public Sector Pension Investment Board’s holdings in ServiceNow were worth $6,202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beck Capital Management LLC grew its position in shares of ServiceNow by 20.6% during the second quarter. Beck Capital Management LLC now owns 4,568 shares of the information technology services provider’s stock worth $3,593,000 after buying an additional 781 shares in the last quarter. Steel Grove Capital Advisors LLC grew its holdings in ServiceNow by 44.1% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 947 shares of the information technology services provider’s stock worth $745,000 after acquiring an additional 290 shares in the last quarter. Battery Global Advisors LLC increased its position in shares of ServiceNow by 9.9% in the 2nd quarter. Battery Global Advisors LLC now owns 788 shares of the information technology services provider’s stock worth $620,000 after purchasing an additional 71 shares during the last quarter. Nippon Life Global Investors Americas Inc. raised its stake in shares of ServiceNow by 8.5% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 72,480 shares of the information technology services provider’s stock valued at $57,018,000 after purchasing an additional 5,690 shares in the last quarter. Finally, Harmony Asset Management LLC bought a new position in shares of ServiceNow during the second quarter worth about $393,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOW. Needham & Company LLC restated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research note on Monday, September 9th. Canaccord Genuity Group restated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. Guggenheim reiterated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. Wells Fargo & Company raised their price target on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $890.03 on Thursday. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $945.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $828.97 and its two-hundred day moving average price is $773.93. The stock has a market cap of $182.46 billion, a PE ratio of 95.19, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last three months. 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.