ServiceNow, Inc. $NOW Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 15.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,734 shares of the information technology services provider’s stock after selling 10,575 shares during the quarter. Teacher Retirement System of Texas’ holdings in ServiceNow were worth $61,411,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global X Japan Co. Ltd. bought a new position in shares of ServiceNow in the second quarter worth $30,000. LGT Financial Advisors LLC bought a new position in shares of ServiceNow in the second quarter worth $32,000. Bogart Wealth LLC boosted its holdings in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow during the first quarter valued at approximately $26,000. Finally, Richardson Financial Services Inc. increased its stake in shares of ServiceNow by 50.0% during the second quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 11 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the transaction, the insider directly owned 457 shares of the company’s stock, valued at $409,037.85. This represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is owned by insiders.

ServiceNow Stock Performance

NOW opened at $929.77 on Monday. The firm has a market cap of $193.39 billion, a PE ratio of 117.10, a P/E/G ratio of 4.20 and a beta of 0.92. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $917.85 and a 200-day simple moving average of $943.26. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NOW shares. Needham & Company LLC raised their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Oppenheimer reiterated an “outperform” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Zacks Research upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Cowen reiterated a “buy” rating on shares of ServiceNow in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,124.17.

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.