AA Financial Advisors LLC Acquires 41 Shares of ServiceNow, Inc. (NYSE:NOW)

AA Financial Advisors LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474 shares of the information technology services provider’s stock after buying an additional 41 shares during the quarter. AA Financial Advisors LLC’s holdings in ServiceNow were worth $424,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NOW. First Affirmative Financial Network boosted its position in ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares during the last quarter. Morling Financial Advisors LLC grew its stake in shares of ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after buying an additional 13 shares in the last quarter. CX Institutional increased its holdings in ServiceNow by 1.2% during the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after buying an additional 13 shares during the last quarter. Optas LLC lifted its stake in ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after acquiring an additional 14 shares during the last quarter. Finally, Cedar Wealth Management LLC grew its position in shares of ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after acquiring an additional 14 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,267 shares of company stock worth $5,935,447. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Oppenheimer raised their price objective on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company lifted their target price on ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Piper Sandler increased their price target on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $914.15.

ServiceNow Price Performance

NOW stock opened at $921.75 on Friday. The company’s 50-day moving average price is $874.61 and its two-hundred day moving average price is $791.98. The firm has a market cap of $188.96 billion, a P/E ratio of 98.58, a P/E/G ratio of 5.63 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

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.