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

Wealth Management Associates Inc. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 16.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 520 shares of the information technology services provider’s stock after buying an additional 75 shares during the quarter. Wealth Management Associates Inc.’s holdings in ServiceNow were worth $535,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after purchasing an additional 297,734 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of ServiceNow by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock worth $2,263,519,000 after acquiring an additional 188,292 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of ServiceNow by 18.1% in the 2nd quarter. Jennison Associates LLC now owns 2,376,714 shares of the information technology services provider’s stock worth $2,443,452,000 after acquiring an additional 363,793 shares during the last quarter. Nuveen LLC bought a new stake in shares of ServiceNow in the 1st quarter worth about $1,817,535,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of ServiceNow by 16.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock worth $1,379,461,000 after acquiring an additional 242,132 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 1,097 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director owned 9,307 shares in the company, valued at approximately $8,516,928.77. The trade was a 10.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 17,980 shares of company stock worth $16,049,017. 0.38% of the stock is owned by corporate insiders.

ServiceNow Trading Down 0.7%

NYSE:NOW opened at $939.50 on Wednesday. ServiceNow, Inc. has a one year low of $678.66 and a one year 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. The firm has a market cap of $195.42 billion, a P/E ratio of 118.33, a P/E/G ratio of 4.27 and a beta of 0.92. The firm has a 50-day simple moving average of $920.02 and a 200-day simple moving average of $945.20.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NOW shares. DA Davidson raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Zacks Research upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, UBS Group decreased their price objective on shares of ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,124.17.

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.