State of Wisconsin Investment Board Has $49.42 Million Position in ServiceNow Inc (NYSE:NOW)

State of Wisconsin Investment Board cut its holdings in ServiceNow Inc (NYSE:NOW) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,496 shares of the information technology services provider’s stock after selling 13,908 shares during the quarter. State of Wisconsin Investment Board owned about 0.11% of ServiceNow worth $49,420,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NOW. Jennison Associates LLC increased its stake in ServiceNow by 26.2% in the 1st quarter. Jennison Associates LLC now owns 3,036,568 shares of the information technology services provider’s stock worth $748,484,000 after purchasing an additional 630,491 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new position in ServiceNow during the 1st quarter valued at about $1,067,000. Rockefeller Capital Management L.P. grew its stake in ServiceNow by 19.9% during the 1st quarter. Rockefeller Capital Management L.P. now owns 800 shares of the information technology services provider’s stock valued at $197,000 after acquiring an additional 133 shares in the last quarter. Geneva Partners LLC grew its stake in ServiceNow by 277.6% during the 1st quarter. Geneva Partners LLC now owns 10,195 shares of the information technology services provider’s stock valued at $2,513,000 after acquiring an additional 7,495 shares in the last quarter. Finally, Corient Capital Partners LLC purchased a new position in ServiceNow during the 1st quarter valued at about $314,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Shares of NOW stock opened at $2,808,519,940.00 on Friday. ServiceNow Inc has a 12 month low of $147.63 and a 12 month high of $292.98. The firm has a market capitalization of $51.41 billion, a price-to-earnings ratio of 14,042,599,700.00, a PEG ratio of 20.31 and a beta of 1.41. The stock’s 50 day simple moving average is $272.19. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.88.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. ServiceNow had a positive return on equity of 1.64% and a negative net margin of 1.38%. The company had revenue of $788.93 million during the quarter, compared to analyst estimates of $768.09 million. During the same period in the previous year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 33.9% compared to the same quarter last year. On average, equities analysts expect that ServiceNow Inc will post 0.48 EPS for the current fiscal year.

NOW has been the topic of several research analyst reports. Needham & Company LLC lifted their target price on ServiceNow to $267.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group lifted their target price on ServiceNow from $242.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. ValuEngine cut ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. Canaccord Genuity boosted their price target on ServiceNow from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Piper Jaffray Companies boosted their price target on ServiceNow from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $270.68.

In related news, Director Frederic B. Luddy sold 22,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $237.38, for a total value of $5,222,360.00. Following the completion of the transaction, the director now directly owns 1,770 shares in the company, valued at $420,162.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Schneider sold 3,414 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $291.33, for a total value of $994,600.62. Following the completion of the transaction, the insider now owns 44,351 shares of the company’s stock, valued at $12,920,776.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,018 shares of company stock valued at $31,494,143. Corporate insiders own 1.00% of the company’s stock.

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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