New York Life Investment Management LLC Has $22.68 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

New York Life Investment Management LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 32,099 shares of the information technology services provider’s stock after acquiring an additional 326 shares during the quarter. New York Life Investment Management LLC’s holdings in ServiceNow were worth $22,678,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Argonautica Private Wealth Management Inc. boosted its holdings in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after purchasing an additional 13 shares during the last quarter. Wealth Management Partners LLC raised its position in ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after acquiring an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group raised its position in ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 14 shares during the period. Trust Co. of Vermont raised its position in ServiceNow by 8.6% in the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 15 shares during the period. Finally, Claro Advisors LLC raised its position in ServiceNow by 3.6% in the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after acquiring an additional 15 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock valued at $8,538,300 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NOW stock traded down $7.72 during midday trading on Wednesday, reaching $685.61. The company had a trading volume of 1,332,500 shares, compared to its average volume of 1,222,386. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. ServiceNow, Inc. has a 1 year low of $428.97 and a 1 year high of $815.32. The company has a market capitalization of $140.81 billion, a P/E ratio of 73.79, a P/E/G ratio of 4.57 and a beta of 0.97. The firm has a 50-day moving average price of $757.16 and a 200-day moving average price of $712.16.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NOW. Jefferies Financial Group lifted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group boosted their price target on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Piper Sandler boosted their price target on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Thursday, April 25th. Finally, UBS Group lowered their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $807.28.

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.