Public Employees Retirement System of Ohio Sells 763 Shares of ServiceNow, Inc. (NYSE:NOW)

Public Employees Retirement System of Ohio reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,111 shares of the information technology services provider’s stock after selling 763 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in ServiceNow were worth $82,383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC bought a new stake in ServiceNow during the 3rd quarter valued at about $30,000. Ridgewood Investments LLC bought a new stake in ServiceNow during the 2nd quarter valued at about $32,000. DT Investment Partners LLC increased its stake in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. American Capital Advisory LLC bought a new stake in ServiceNow during the 2nd quarter valued at about $39,000. Finally, Semmax Financial Advisors Inc. bought a new stake in ServiceNow during the 2nd quarter valued at about $39,000. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOW. Piper Sandler raised their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Mizuho raised their price target on shares of ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. raised their price target on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company raised their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Needham & Company LLC raised their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.26.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last three months. 0.25% of the stock is owned by company insiders.

ServiceNow Trading Up 0.1 %

ServiceNow stock opened at $1,124.34 on Monday. The stock has a market cap of $231.61 billion, a P/E ratio of 174.86, a PEG ratio of 6.45 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,137.00. The firm’s 50 day moving average price is $982.51 and its 200-day moving average price is $858.99.

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