New York Life Investment Management LLC Grows Holdings in ServiceNow, Inc. $NOW

New York Life Investment Management LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,024 shares of the information technology services provider’s stock after buying an additional 505 shares during the period. New York Life Investment Management LLC’s holdings in ServiceNow were worth $31,895,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $30,000. LGT Financial Advisors LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $32,000. Bogart Wealth LLC boosted its stake in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow in the 1st quarter valued at $26,000. Finally, Richardson Financial Services Inc. boosted its stake in shares of ServiceNow by 50.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 1.8%

Shares of NYSE NOW opened at $947.33 on Tuesday. 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 12 month low of $678.66 and a 12 month high of $1,198.09. The firm has a market capitalization of $197.05 billion, a PE ratio of 119.31, a price-to-earnings-growth ratio of 4.20 and a beta of 0.92. The firm has a fifty day simple moving average of $918.98 and a two-hundred day simple moving average of $944.11.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at approximately $10,594,950.60. This represents a 12.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,980 shares of company stock worth $16,049,017. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOW shares. UBS Group cut their price objective on shares of ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Zacks Research raised shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Piper Sandler increased their price target on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Raymond James Financial increased their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,124.17.

About ServiceNow

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.