Employees Retirement System of Texas Has $87.95 Million Holdings in ServiceNow, Inc. $NOW

Employees Retirement System of Texas raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 33.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,569 shares of the information technology services provider’s stock after acquiring an additional 24,077 shares during the quarter. Employees Retirement System of Texas’ holdings in ServiceNow were worth $87,950,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kilter Group LLC acquired a new stake in shares of ServiceNow during the second quarter worth approximately $25,000. IAG Wealth Partners LLC grew its position in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. Total Investment Management Inc. acquired a new position in ServiceNow in the 2nd quarter valued at approximately $31,000. Bogart Wealth LLC lifted its position in ServiceNow by 93.8% in the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after buying an additional 15 shares in the last quarter. Finally, Albion Financial Group UT lifted its position in ServiceNow by 78.9% in the 3rd quarter. Albion Financial Group UT now owns 34 shares of the information technology services provider’s stock worth $31,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NOW shares. Needham & Company LLC restated a “buy” rating and set a $155.00 price target on shares of ServiceNow in a report on Thursday, February 5th. Arete Research set a $200.00 price objective on ServiceNow in a report on Tuesday, January 6th. TD Cowen reduced their price objective on ServiceNow from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Sanford C. Bernstein restated an “outperform” rating on shares of ServiceNow in a research note on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft set a $180.00 target price on ServiceNow in a research report on Thursday, January 29th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $192.06.

Insider Activity at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total transaction of $151,755.00. Following the transaction, the director owned 46,430 shares in the company, valued at $4,697,323.10. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the transaction, the insider directly owned 26,314 shares in the company, valued at approximately $2,781,652.94. This represents a 5.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 16,237 shares of company stock valued at $1,697,162. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 2.5%

Shares of NYSE:NOW opened at $112.76 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $117.95 billion, a PE ratio of 67.60, a P/E/G ratio of 1.96 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $98.00 and a 1 year high of $211.48. The firm has a fifty day moving average price of $119.93 and a 200 day moving average price of $155.79.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The business’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.