TIAA Trust National Association Has $34.67 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

TIAA Trust National Association raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 12.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,075 shares of the information technology services provider’s stock after buying an additional 5,014 shares during the quarter. TIAA Trust National Association’s holdings in ServiceNow were worth $34,672,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Optas LLC grew its position in ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after buying an additional 14 shares in the last quarter. Cedar Wealth Management LLC lifted its position in shares of ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after acquiring an additional 14 shares during the period. Financial Advocates Investment Management grew its holdings in shares of ServiceNow by 2.7% during the 2nd quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 14 shares in the last quarter. Ndwm LLC increased its position in shares of ServiceNow by 0.6% during the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock valued at $1,900,000 after purchasing an additional 14 shares during the period. Finally, Forbes J M & Co. LLP raised its stake in shares of ServiceNow by 0.3% in the first quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock valued at $4,035,000 after purchasing an additional 15 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. KeyCorp lowered their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Piper Sandler increased their price target on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Truist Financial lifted their price objective on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Company increased their target price on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $849.62.

ServiceNow Stock Performance

Shares of NOW stock opened at $855.00 on Tuesday. The stock has a market cap of $175.28 billion, a P/E ratio of 91.44, a P/E/G ratio of 5.13 and a beta of 0.99. The company has a fifty day moving average price of $794.11 and a two-hundred day moving average price of $760.84. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $857.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. As a group, equities analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders have sold a total of 7,129 shares of company stock worth $5,759,436 over the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Profile

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.