ServiceNow, Inc. $NOW Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.3% in the second quarter, HoldingsChannel reports. The firm owned 44,418 shares of the information technology services provider’s stock after buying an additional 150 shares during the period. Retirement Systems of Alabama’s holdings in ServiceNow were worth $45,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Assetmark Inc. raised its position in shares of ServiceNow by 0.7% in the second quarter. Assetmark Inc. now owns 49,618 shares of the information technology services provider’s stock worth $51,011,000 after acquiring an additional 356 shares during the period. Keybank National Association OH raised its position in shares of ServiceNow by 6.2% in the second quarter. Keybank National Association OH now owns 9,693 shares of the information technology services provider’s stock worth $9,965,000 after acquiring an additional 565 shares during the period. Premier Path Wealth Partners LLC raised its position in shares of ServiceNow by 15.2% in the second quarter. Premier Path Wealth Partners LLC now owns 1,921 shares of the information technology services provider’s stock worth $1,975,000 after acquiring an additional 254 shares during the period. Hantz Financial Services Inc. raised its position in shares of ServiceNow by 9.0% in the second quarter. Hantz Financial Services Inc. now owns 27,790 shares of the information technology services provider’s stock worth $28,570,000 after acquiring an additional 2,292 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of ServiceNow in the second quarter worth about $172,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the sale, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director directly owned 9,307 shares of the company’s stock, valued at approximately $8,516,928.77. This represents a 10.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,980 shares of company stock worth $16,049,017 in the last 90 days. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Raymond James Financial upped their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a research report on Thursday. Wall Street Zen raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Piper Sandler boosted their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,124.17.

ServiceNow Trading Down 2.8%

Shares of NOW stock opened at $911.75 on Thursday. The stock’s fifty day moving average is $920.43 and its two-hundred day moving average is $946.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $189.64 billion, a P/E ratio of 114.83, a PEG ratio of 4.23 and a beta of 0.92. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

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.