New Mexico Educational Retirement Board Has $10.44 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

New Mexico Educational Retirement Board lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 2.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,850 shares of the information technology services provider’s stock after selling 200 shares during the period. New Mexico Educational Retirement Board’s holdings in ServiceNow were worth $10,442,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Truvestments Capital LLC bought a new stake in ServiceNow in the 3rd quarter valued at about $30,000. DT Investment Partners LLC boosted 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 purchasing an additional 17 shares during the period. Heck Capital Advisors LLC bought a new stake in ServiceNow in the 4th quarter valued at about $37,000. Stonebridge Financial Group LLC bought a new stake in ServiceNow in the 4th quarter valued at about $37,000. Finally, Oakworth Capital Inc. boosted its holdings in ServiceNow by 46.7% in the 3rd 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 during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 0.4 %

NOW opened at $985.67 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $1,073.31 and a 200-day moving average of $969.70. The stock has a market cap of $203.05 billion, a PE ratio of 144.31, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $95,554.76. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,077,066.58. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,257 shares of company stock valued at $23,579,376. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent analyst reports. Oppenheimer upped their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target for the company. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. TD Cowen increased their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Barclays increased their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

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.