ServiceNow, Inc. $NOW is Grace & Mercy Foundation Inc.'s 7th Largest Position

Key Points

• Grace & Mercy Foundation Inc. increased its stake in ServiceNow by 20.9% during the first quarter, acquiring an additional 5,300 shares, bringing its total holdings to 30,600 shares worth approximately $24.36 million.
• In institutional investor activity, GAMMA Investing LLC significantly boosted its holdings in ServiceNow by 87,501.3%, now owning over 2.68 million shares valued at more than $2.14 billion.
• ServiceNow reported a 22.4% increase in revenue year-over-year, with earnings per share of $4.09 surpassing analyst expectations of $3.57.

Grace & Mercy Foundation Inc. increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 20.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,600 shares of the information technology services provider's stock after acquiring an additional 5,300 shares during the period. ServiceNow comprises approximately 6.1% of Grace & Mercy Foundation Inc.'s holdings, making the stock its 7th largest position. Grace & Mercy Foundation Inc.'s holdings in ServiceNow were worth $24,362,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in ServiceNow by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after purchasing an additional 297,734 shares during the period. GAMMA Investing LLC raised its position in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ServiceNow by 3.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider's stock worth $2,814,433,000 after acquiring an additional 87,876 shares during the period. Nuveen Asset Management LLC grew its stake in ServiceNow by 4.9% during the 4th quarter. Nuveen Asset Management LLC now owns 2,343,840 shares of the information technology services provider's stock valued at $2,484,752,000 after acquiring an additional 109,293 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $1,817,535,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 2.9%

Shares of ServiceNow stock traded up $26.25 during trading on Monday, reaching $940.05. The company's stock had a trading volume of 1,613,497 shares, compared to its average volume of 1,709,234. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $195.53 billion, a price-to-earnings ratio of 118.39, a P/E/G ratio of 4.12 and a beta of 0.91. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a 50-day simple moving average of $936.79 and a two-hundred day simple moving average of $922.19.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the business earned $3.13 EPS. ServiceNow's quarterly revenue was up 22.4% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel owned 4,332 shares of the company's stock, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the transaction, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. This represents a 10.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock valued at $17,049,775 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on NOW shares. Oppenheimer reissued an "outperform" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Guggenheim reiterated a "sell" rating and set a $724.00 price target on shares of ServiceNow in a report on Thursday, July 17th. Needham & Company LLC upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Cantor Fitzgerald reissued an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Finally, Bank of America boosted their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,115.20.

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.