Mutual of America Capital Management LLC Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Mutual of America Capital Management LLC raised its position in ServiceNow, Inc. (NYSE:NOW) by 0.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 24,875 shares of the information technology services provider’s stock after buying an additional 201 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ServiceNow were worth $19,804,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Quarry LP purchased a new position in ServiceNow during the fourth quarter worth about $27,000. WASHINGTON TRUST Co increased its position in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $37,000. ST Germain D J Co. Inc. lifted its holdings in shares of ServiceNow by 63.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 49 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 19 shares during the period. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of ServiceNow in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NOW shares. Wells Fargo & Company increased their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Bank of America increased their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Guggenheim restated a “sell” rating and set a $724.00 target price on shares of ServiceNow in a research report on Thursday, July 17th. The Goldman Sachs Group reissued a “buy” rating on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Canaccord Genuity Group dropped their price objective on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,115.20.

ServiceNow Stock Up 0.7%

Shares of NOW opened at $911.07 on Thursday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company’s fifty day moving average is $988.58 and its two-hundred day moving average is $947.68. The firm has a market cap of $189.50 billion, a PE ratio of 114.74, a price-to-earnings-growth ratio of 4.08 and a beta of 0.93. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.13 earnings per share. Analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 239 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total value of $250,950.00. Following the transaction, the director owned 10,404 shares of the company’s stock, valued at approximately $10,924,200. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer owned 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,250 shares of company stock valued at $5,318,667 over the last quarter. Company insiders own 0.38% of the company’s stock.

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.