Teacher Retirement System of Texas Purchases 11,437 Shares of ServiceNow Inc. (NOW)
Teacher Retirement System of Texas increased its position in ServiceNow Inc. (NYSE:NOW) by 6.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,812 shares of the company’s stock after buying an additional 11,437 shares during the period. Teacher Retirement System of Texas’ holdings in ServiceNow were worth $14,628,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in ServiceNow by 0.8% in the second quarter. CIBC Asset Management Inc now owns 5,902 shares of the company’s stock worth $392,000 after buying an additional 45 shares in the last quarter. Calvert Investment Management Inc. raised its position in ServiceNow by 1.0% in the second quarter. Calvert Investment Management Inc. now owns 8,163 shares of the company’s stock worth $542,000 after buying an additional 83 shares in the last quarter. Brown Advisory Inc. raised its position in ServiceNow by 2.5% in the second quarter. Brown Advisory Inc. now owns 4,420 shares of the company’s stock worth $293,000 after buying an additional 106 shares in the last quarter. Fisher Asset Management LLC raised its position in ServiceNow by 0.6% in the third quarter. Fisher Asset Management LLC now owns 19,688 shares of the company’s stock worth $1,558,000 after buying an additional 116 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its position in ServiceNow by 0.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 35,377 shares of the company’s stock worth $2,349,000 after buying an additional 200 shares in the last quarter. 98.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ServiceNow Inc. (NYSE:NOW) traded down 0.94% during trading on Tuesday, reaching $84.02. 647,424 shares of the company’s stock were exchanged. ServiceNow Inc. has a 52-week low of $46.00 and a 52-week high of $91.28. The firm’s market capitalization is $13.95 billion. The company has a 50 day moving average of $82.60 and a 200 day moving average of $75.61.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business earned $357.66 million during the quarter, compared to the consensus estimate of $352.16 million. ServiceNow had a negative net margin of 35.38% and a negative return on equity of 38.73%. The firm’s quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. Equities analysts anticipate that ServiceNow Inc. will post $0.70 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised ServiceNow from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Wednesday, August 3rd. BMO Capital Markets assumed coverage on ServiceNow in a report on Monday, September 19th. They issued a “market perform” rating and a $85.00 price objective on the stock. Argus reaffirmed a “buy” rating and issued a $86.00 price objective on shares of ServiceNow in a report on Wednesday, August 3rd. Guggenheim assumed coverage on ServiceNow in a report on Wednesday, September 14th. They issued a “buy” rating and a $90.00 price objective on the stock. Finally, Cowen and Company set a $100.00 price objective on ServiceNow and gave the company a “buy” rating in a report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $85.93.
In other ServiceNow news, COO Daniel Mcgee sold 14,191 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $80.00, for a total value of $1,135,280.00. Following the completion of the sale, the chief operating officer now owns 5,321 shares in the company, valued at approximately $425,680. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Frederic B. Luddy sold 199,000 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $76.68, for a total transaction of $15,259,320.00. Following the transaction, the insider now owns 1,587 shares in the company, valued at approximately $121,691.16. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.
ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
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