Ensign Peak Advisors Inc Grows Stock Holdings in ServiceNow Inc (NYSE:NOW)

Ensign Peak Advisors Inc raised its stake in shares of ServiceNow Inc (NYSE:NOW) by 242.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 410,738 shares of the information technology services provider’s stock after acquiring an additional 290,801 shares during the period. Ensign Peak Advisors Inc owned approximately 0.22% of ServiceNow worth $117,710,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. IFP Advisors Inc grew its position in ServiceNow by 28.1% in the 4th quarter. IFP Advisors Inc now owns 287 shares of the information technology services provider’s stock valued at $83,000 after buying an additional 63 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of ServiceNow by 14.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,244 shares of the information technology services provider’s stock worth $3,739,000 after acquiring an additional 1,707 shares during the period. Advisor Partners LLC purchased a new position in ServiceNow during the fourth quarter worth about $404,000. Lindbrook Capital LLC raised its holdings in ServiceNow by 18.1% during the fourth quarter. Lindbrook Capital LLC now owns 340 shares of the information technology services provider’s stock worth $96,000 after purchasing an additional 52 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in ServiceNow by 267.9% in the fourth quarter. Arizona State Retirement System now owns 48,869 shares of the information technology services provider’s stock valued at $13,797,000 after purchasing an additional 35,585 shares during the period. 91.93% of the stock is owned by institutional investors.

In other ServiceNow news, Director Frederic B. Luddy sold 26,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $296.17, for a total transaction of $7,700,420.00. Following the transaction, the director now owns 1,213 shares of the company’s stock, valued at $359,254.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chirantan Jitendra Desai sold 1,562 shares of ServiceNow stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $384.13, for a total transaction of $600,011.06. Following the completion of the transaction, the insider now owns 23,805 shares in the company, valued at approximately $9,144,214.65. The disclosure for this sale can be found here. Insiders have sold 343,795 shares of company stock worth $115,218,038 over the last quarter. 0.72% of the stock is currently owned by company insiders.

Several analysts have recently commented on the company. Raymond James raised their price target on ServiceNow from $330.00 to $385.00 and gave the company a “strong-buy” rating in a report on Thursday, April 30th. Piper Sandler downgraded ServiceNow from an “overweight” rating to a “neutral” rating and raised their target price for the company from $310.00 to $360.00 in a report on Thursday, April 30th. SunTrust Banks upped their price target on shares of ServiceNow from $350.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Jefferies Financial Group raised their price objective on shares of ServiceNow from $340.00 to $375.00 in a research note on Thursday, April 30th. Finally, Stifel Nicolaus upped their target price on shares of ServiceNow from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Six research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $362.96.

Shares of NOW traded down $1.91 on Tuesday, hitting $386.05. 102,586 shares of the stock traded hands, compared to its average volume of 2,355,826. ServiceNow Inc has a 1 year low of $213.99 and a 1 year high of $394.76. The stock’s 50 day moving average is $328.05 and its two-hundred day moving average is $304.26. The firm has a market capitalization of $73.69 billion, a P/E ratio of 112.67, a P/E/G ratio of 13.66 and a beta of 1.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.50.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 29th. The information technology services provider reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.10. ServiceNow had a return on equity of 9.47% and a net margin of 18.19%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $0.67 EPS. ServiceNow’s revenue was up 32.6% on a year-over-year basis. Research analysts forecast that ServiceNow Inc will post 1.01 EPS for the current year.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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