AAFMAA Wealth Management & Trust LLC Has $1.90 Million Holdings in ServiceNow, Inc. $NOW

AAFMAA Wealth Management & Trust LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,852 shares of the information technology services provider’s stock after selling 230 shares during the period. AAFMAA Wealth Management & Trust LLC’s holdings in ServiceNow were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Global X Japan Co. Ltd. acquired a new position in ServiceNow during the 2nd quarter worth $30,000. Bogart Wealth LLC lifted its stake in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow during the first quarter valued at $26,000. WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the last quarter. Finally, Dagco Inc. acquired a new stake in ServiceNow in the first quarter worth about $33,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

Shares of NOW stock opened at $919.44 on Friday. 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 52 week low of $678.66 and a 52 week high of $1,198.09. The company’s 50 day moving average price is $920.28 and its two-hundred day moving average price is $925.55. The company has a market capitalization of $191.24 billion, a P/E ratio of 115.80, a price-to-earnings-growth ratio of 4.20 and a beta of 0.91.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.13 earnings per share. On average, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 1,452 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider directly owned 457 shares in the company, valued at $409,037.85. The trade was a 76.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the 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 owned 9,307 shares of the company’s stock, valued at approximately $8,516,928.77. The trade was a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Needham & Company LLC increased their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Monday, August 4th. Raymond James Financial upped their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Jefferies Financial Group raised their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,122.20.

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.