Teacher Retirement System of Texas Buys 20,663 Shares of ServiceNow Inc (NYSE:NOW)

Teacher Retirement System of Texas raised its stake in shares of ServiceNow Inc (NYSE:NOW) by 31.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,159 shares of the information technology services provider’s stock after purchasing an additional 20,663 shares during the period. Teacher Retirement System of Texas’ holdings in ServiceNow were worth $24,607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Delta Asset Management LLC TN bought a new position in shares of ServiceNow in the 3rd quarter valued at about $25,000. Laurel Wealth Advisors LLC bought a new position in shares of ServiceNow in the 4th quarter valued at about $28,000. AdvisorNet Financial Inc bought a new position in shares of ServiceNow in the 3rd quarter valued at about $31,000. Tarbox Family Office Inc. lifted its holdings in shares of ServiceNow by 668.8% in the 4th quarter. Tarbox Family Office Inc. now owns 123 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 107 shares during the last quarter. Finally, Tompkins Financial Corp bought a new position in shares of ServiceNow in the 4th quarter valued at about $37,000. 91.74% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently commented on NOW shares. Credit Suisse Group increased their price target on shares of ServiceNow from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Barclays reaffirmed a “buy” rating and issued a $345.00 price target on shares of ServiceNow in a report on Friday, January 31st. BMO Capital Markets increased their price target on shares of ServiceNow from $300.00 to $385.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. JMP Securities increased their price target on shares of ServiceNow from $325.00 to $340.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Finally, Citigroup increased their price target on shares of ServiceNow from $345.00 to $384.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $353.82.

In other news, Director Frederic B. Luddy sold 40,613 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $343.87, for a total transaction of $13,965,592.31. Following the transaction, the director now directly owns 1,213 shares of the company’s stock, valued at $417,114.31. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chirantan Jitendra Desai sold 2,836 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $258.00, for a total transaction of $731,688.00. Following the transaction, the insider now directly owns 44,619 shares in the company, valued at $11,511,702. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,611 shares of company stock worth $35,015,904. Corporate insiders own 1.00% of the company’s stock.

NYSE NOW traded up $3.34 during trading on Friday, hitting $355.15. The stock had a trading volume of 64,837 shares, compared to its average volume of 1,902,533. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.03. The stock has a market capitalization of $65.96 billion, a price-to-earnings ratio of 112.02, a P/E/G ratio of 11.51 and a beta of 1.36. ServiceNow Inc has a one year low of $213.99 and a one year high of $357.00. The stock has a 50 day simple moving average of $312.99 and a 200 day simple moving average of $275.51.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.09. The business had revenue of $951.77 million during the quarter, compared to the consensus estimate of $940.14 million. ServiceNow had a net margin of 18.11% and a return on equity of 7.60%. The firm’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. On average, sell-side analysts predict that ServiceNow Inc will post 1.03 EPS for the current year.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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