Louisiana State Employees Retirement System Sells 500 Shares of ServiceNow, Inc. (NYSE:NOW)

Louisiana State Employees Retirement System lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,100 shares of the information technology services provider’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in ServiceNow were worth $11,767,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow during the third quarter valued at approximately $30,000. DT Investment Partners LLC increased its holdings in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in ServiceNow in the 4th quarter worth $37,000. Stonebridge Financial Group LLC bought a new position in shares of ServiceNow during the 4th quarter valued at about $37,000. Finally, Oakworth Capital Inc. grew its position in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research analyst reports. Oppenheimer boosted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Canaccord Genuity Group increased their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. JMP Securities restated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. The Goldman Sachs Group upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $1,008.63 on Wednesday. The firm’s 50 day simple moving average is $1,079.78 and its 200-day simple moving average is $968.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm has a market cap of $207.78 billion, a PE ratio of 147.68, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has initiated a stock repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $95,554.76. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,077,066.58. This trade represents a 3.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,867 shares of ServiceNow stock in a transaction on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the completion of the transaction, the general counsel now owns 6,843 shares in the company, valued at $7,007,026.71. This represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,809 shares of company stock worth $25,174,184. Company insiders own 0.25% of the company’s stock.

ServiceNow Company 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.