ServiceNow, Inc. (NYSE:NOW) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in ServiceNow, Inc. (NYSE:NOW) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,456 shares of the information technology services provider’s stock after selling 3,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in ServiceNow were worth $26,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NOW. Quarry LP acquired a new position in ServiceNow during the fourth quarter worth $27,000. Bogart Wealth LLC raised its position in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new position in ServiceNow during the first quarter worth $26,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $37,000. Finally, WASHINGTON TRUST Co raised its position in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 31 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 257 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $878.39, for a total transaction of $225,746.23. Following the sale, the insider owned 3,027 shares of the company’s stock, valued at approximately $2,658,886.53. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gina Mastantuono sold 292 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $878.39, for a total transaction of $256,489.88. Following the sale, the chief financial officer directly owned 11,551 shares in the company, valued at approximately $10,146,282.89. The trade was a 2.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,587 shares of company stock valued at $5,584,027 in the last quarter. Company insiders own 0.38% of the company’s stock.

ServiceNow Stock Up 1.1%

NOW stock opened at $862.82 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company’s 50 day moving average is $973.65 and its two-hundred day moving average is $939.15. The stock has a market cap of $179.47 billion, a P/E ratio of 108.67, a PEG ratio of 3.85 and a beta of 0.93.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the company earned $3.13 earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NOW shares. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Evercore ISI increased their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Jefferies Financial Group increased their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Needham & Company LLC increased their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,115.20.

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.