Wealth Management Associates Inc. Buys 75 Shares of ServiceNow, Inc. $NOW

Wealth Management Associates Inc. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 16.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 520 shares of the information technology services provider’s stock after purchasing an additional 75 shares during the period. Wealth Management Associates Inc.’s holdings in ServiceNow were worth $535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Haverford Trust Co lifted its position in ServiceNow by 0.9% during the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after purchasing an additional 10 shares during the period. Ascent Group LLC grew its position in shares of ServiceNow by 0.5% during the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after acquiring an additional 10 shares during the period. Edgemoor Investment Advisors Inc. increased its stake in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $366,000 after purchasing an additional 11 shares in the last quarter. Integrated Investment Consultants LLC raised its holdings in ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after purchasing an additional 11 shares during the period. Finally, one8zero8 LLC raised its holdings in ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after purchasing an additional 11 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the transaction, the insider directly owned 3,027 shares of the company’s stock, valued at $2,622,744.15. The trade was a 34.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,980 shares of company stock valued at $16,049,017 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $939.50 on Wednesday. The stock has a market capitalization of $195.42 billion, a price-to-earnings ratio of 118.33, a PEG ratio of 4.27 and a beta of 0.92. The company has a fifty day moving average of $920.02 and a 200 day moving average of $945.20. 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 debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NOW. DA Davidson raised their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Needham & Company LLC raised their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a report on Monday. Guggenheim reissued a “sell” rating and issued a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Finally, Raymond James Financial increased their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,124.17.

ServiceNow Company 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.