AAFMAA Wealth Management & Trust LLC Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

AAFMAA Wealth Management & Trust LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 12.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,248 shares of the information technology services provider’s stock after buying an additional 244 shares during the period. AAFMAA Wealth Management & Trust LLC’s holdings in ServiceNow were worth $1,714,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Argonautica Private Wealth Management Inc. grew its stake in shares of ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after buying an additional 13 shares during the last quarter. Wealth Management Partners LLC boosted its stake in ServiceNow by 2.7% during the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares during the last quarter. Optas LLC boosted its stake in ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares during the last quarter. Finally, Trust Co. of Vermont boosted its stake in ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wolfe Research reiterated an “outperform” rating and set a $830.00 target price on shares of ServiceNow in a research note on Friday, May 10th. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. KeyCorp cut their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. JMP Securities reissued a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a report on Tuesday, May 7th. Finally, BMO Capital Markets lowered their price target on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $812.60.

Insiders Place Their Bets

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the sale, the chief financial officer now directly owns 13,290 shares of the company’s stock, valued at approximately $9,819,715.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 in the last three months. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

NYSE:NOW traded down $40.27 on Monday, reaching $766.20. 2,011,051 shares of the company’s stock traded hands, compared to its average volume of 1,280,124. The stock has a 50-day simple moving average of $732.81 and a 200-day simple moving average of $744.60. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $815.32. The firm has a market cap of $157.07 billion, a PE ratio of 82.56, a P/E/G ratio of 5.06 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. Equities research analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

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.