California Public Employees Retirement System Has $45.05 Million Position in ServiceNow Inc (NOW)

California Public Employees Retirement System increased its stake in shares of ServiceNow Inc (NYSE:NOW) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 345,491 shares of the information technology services provider’s stock after purchasing an additional 17,664 shares during the period. California Public Employees Retirement System’s holdings in ServiceNow were worth $45,049,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NOW. American Century Companies Inc. grew its stake in shares of ServiceNow by 162.5% during the fourth quarter. American Century Companies Inc. now owns 1,771,319 shares of the information technology services provider’s stock worth $230,962,000 after purchasing an additional 1,096,491 shares during the period. Ardevora Asset Management LLP acquired a new stake in shares of ServiceNow during the third quarter worth $39,255,000. Victory Capital Management Inc. grew its stake in shares of ServiceNow by 203.8% during the third quarter. Victory Capital Management Inc. now owns 493,243 shares of the information technology services provider’s stock worth $57,971,000 after purchasing an additional 330,883 shares during the period. Tremblant Capital Group lifted its holdings in ServiceNow by 38.9% during the third quarter. Tremblant Capital Group now owns 435,776 shares of the information technology services provider’s stock worth $51,217,000 after acquiring an additional 121,970 shares in the last quarter. Finally, Seatown Holdings Pte. Ltd. lifted its holdings in ServiceNow by 162.5% during the third quarter. Seatown Holdings Pte. Ltd. now owns 177,677 shares of the information technology services provider’s stock worth $20,882,000 after acquiring an additional 110,000 shares in the last quarter.

In related news, Director Frank Slootman sold 31,716 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $147.18, for a total transaction of $4,667,960.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Scarpelli sold 95,035 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $126.52, for a total value of $12,023,828.20. Following the sale, the insider now owns 194,664 shares in the company, valued at approximately $24,628,889.28. The disclosure for this sale can be found here. Insiders have sold 518,060 shares of company stock worth $69,903,411 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.

NOW has been the topic of several recent analyst reports. OTR Global upgraded ServiceNow to a “positive” rating in a report on Wednesday, October 18th. Deutsche Bank lifted their target price on ServiceNow from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Northland Securities reiterated a “buy” rating and set a $135.00 target price on shares of ServiceNow in a report on Thursday, October 19th. Piper Jaffray Companies upgraded ServiceNow from a “neutral” rating to an “overweight” rating in a report on Monday, October 23rd. Finally, Bank of America lifted their target price on ServiceNow from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $148.97.

Shares of ServiceNow Inc (NOW) opened at $147.74 on Thursday. ServiceNow Inc has a twelve month low of $83.42 and a twelve month high of $157.00. The stock has a market capitalization of $25,220.00, a PE ratio of -169.82, a P/E/G ratio of 31.31 and a beta of 1.26. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.10.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. ServiceNow had a negative return on equity of 24.97% and a negative net margin of 7.71%. The business had revenue of $546.37 million for the quarter, compared to analyst estimates of $532.74 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. ServiceNow’s revenue was up 41.7% on a year-over-year basis. analysts expect that ServiceNow Inc will post 0.1 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was first published by Markets Daily and is owned by of Markets Daily. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.themarketsdaily.com/2018/02/15/california-public-employees-retirement-system-has-45-05-million-position-in-servicenow-inc-now.html.

ServiceNow Profile

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow Inc (NYSE:NOW).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply