Kentucky Retirement Systems Insurance Trust Fund Sells 513 Shares of ServiceNow, Inc. (NYSE:NOW)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,099 shares of the information technology services provider’s stock after selling 513 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in ServiceNow were worth $5,455,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. M&G Plc bought a new stake in shares of ServiceNow in the first quarter worth $11,030,000. Avidian Wealth Enterprises LLC grew its position in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after buying an additional 138 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after buying an additional 765 shares during the period. AXA S.A. raised its position in shares of ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the last quarter. Finally, HWG Holdings LP acquired a new position in shares of ServiceNow in the second quarter worth approximately $2,679,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

NYSE NOW opened at $1,011.39 on Friday. The company’s 50 day moving average is $932.47 and its 200-day moving average is $823.24. The firm has a market cap of $208.35 billion, a P/E ratio of 157.29, a price-to-earnings-growth ratio of 6.00 and a beta of 0.98. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the business posted $1.21 earnings per share. The business’s quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NOW. Jefferies Financial Group boosted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays upped their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. UBS Group upped their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Citigroup lifted their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company increased their price target on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $974.04.

Insiders Place Their Bets

In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,325 shares of company stock worth $5,024,928 in the last quarter. 0.25% of the stock is owned by company insiders.

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.