South Dakota Investment Council Sells 500 Shares of ServiceNow, Inc. (NYSE:NOW)

South Dakota Investment Council trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 33.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,000 shares of the information technology services provider’s stock after selling 500 shares during the period. South Dakota Investment Council’s holdings in ServiceNow were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in NOW. PFG Private Wealth Management LLC bought a new position in shares of ServiceNow in the third quarter valued at $28,000. AdvisorNet Financial Inc lifted its stake in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Steward Financial Group LLC lifted its stake in shares of ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 35 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of ServiceNow in the third quarter valued at $35,000. Finally, OFI Invest Asset Management bought a new position in shares of ServiceNow in the third quarter valued at $41,000. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 1,795 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 in the last ninety days. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial raised their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Piper Sandler raised their price target on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Oppenheimer raised their price target on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Finally, Royal Bank of Canada raised their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $782.85.

ServiceNow Price Performance

NOW opened at $716.25 on Friday. The stock has a 50-day moving average price of $760.05 and a 200-day moving average price of $706.80. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $147.10 billion, a P/E ratio of 76.60, a PEG ratio of 4.72 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 EPS. Equities analysts predict that ServiceNow, Inc. will post 6.16 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.