MRA Advisory Group Buys 230 Shares of ServiceNow, Inc. (NYSE:NOW)

MRA Advisory Group grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 54.0% during the 2nd quarter, Holdings Channel reports. The firm owned 656 shares of the information technology services provider’s stock after purchasing an additional 230 shares during the period. MRA Advisory Group’s holdings in ServiceNow were worth $516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&G Plc bought a new position in shares of ServiceNow in the 1st quarter valued at about $11,030,000. New Mexico Educational Retirement Board lifted its position in shares of ServiceNow by 9.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after buying an additional 1,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares in the last quarter. Wealthspire Advisors LLC raised its position in ServiceNow by 3.4% in the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after purchasing an additional 56 shares during the last quarter. Finally, Brookstone Capital Management grew its holdings in ServiceNow by 25.5% during the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after acquiring an additional 2,928 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NOW shares. Wells Fargo & Company increased their target price on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. KeyCorp lowered their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada upped their price target on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $849.62.

ServiceNow Price Performance

Shares of NOW stock opened at $825.04 on Friday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $863.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $169.13 billion, a price-to-earnings ratio of 88.24, a PEG ratio of 5.13 and a beta of 0.98. The stock’s 50-day simple moving average is $799.33 and its 200-day simple moving average is $762.85.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts forecast 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.