Wealth Management Associates Inc. Has $354,000 Stock Position in ServiceNow, Inc. $NOW

Wealth Management Associates Inc. reduced its position in ServiceNow, Inc. (NYSE:NOW) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 445 shares of the information technology services provider’s stock after selling 26 shares during the quarter. Wealth Management Associates Inc.’s holdings in ServiceNow were worth $354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. SWS Partners lifted its holdings in shares of ServiceNow by 3.7% during the first quarter. SWS Partners now owns 1,571 shares of the information technology services provider’s stock valued at $1,251,000 after acquiring an additional 56 shares during the period. Siren L.L.C. increased its stake in shares of ServiceNow by 62.8% in the first quarter. Siren L.L.C. now owns 9,126 shares of the information technology services provider’s stock valued at $7,266,000 after buying an additional 3,521 shares in the last quarter. Mattson Financial Services LLC increased its position in ServiceNow by 23.0% in the first quarter. Mattson Financial Services LLC now owns 2,624 shares of the information technology services provider’s stock worth $2,089,000 after purchasing an additional 490 shares during the period. Geneos Wealth Management Inc. increased its position in ServiceNow by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 760 shares of the information technology services provider’s stock worth $605,000 after purchasing an additional 188 shares during the period. Finally, IFM Investors Pty Ltd increased its position in ServiceNow by 0.4% in the first quarter. IFM Investors Pty Ltd now owns 40,219 shares of the information technology services provider’s stock worth $32,020,000 after purchasing an additional 149 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

NYSE:NOW opened at $924.89 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a market cap of $192.38 billion, a price-to-earnings ratio of 116.49, a PEG ratio of 4.21 and a beta of 0.91. The stock has a fifty day moving average price of $931.78 and a 200-day moving average price of $922.31.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share 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 business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the company earned $3.13 EPS. ServiceNow’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NOW. Raymond James Financial boosted their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Barclays set a $1,210.00 price target on ServiceNow in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price target 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. Piper Sandler boosted their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, BMO Capital Markets boosted their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,115.20.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This represents a 46.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock worth $17,049,775 over the last quarter. 0.38% of the stock is currently owned by company insiders.

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.