MFA Wealth Advisors LLC Sells 59 Shares of ServiceNow, Inc. (NYSE:NOW)

MFA Wealth Advisors LLC decreased its position in ServiceNow, Inc. (NYSE:NOW) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 927 shares of the information technology services provider’s stock after selling 59 shares during the quarter. MFA Wealth Advisors LLC’s holdings in ServiceNow were worth $829,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NOW. M&G Plc acquired a new stake in shares of ServiceNow during the first quarter worth approximately $11,030,000. AXA S.A. increased its holdings in ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares in the last quarter. HWG Holdings LP bought a new position in ServiceNow in the 2nd quarter valued at $2,679,000. New Mexico Educational Retirement Board boosted its stake in ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of ServiceNow by 375.6% during the first 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 during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,467 shares of company stock valued at $4,450,447 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. Royal Bank of Canada raised their price target on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. KeyCorp reduced their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company lifted their target price on ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $927.62.

ServiceNow Stock Down 1.1 %

ServiceNow stock opened at $907.68 on Thursday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $949.59. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $880.60 and a 200-day moving average of $795.09. The stock has a market capitalization of $186.07 billion, a PE ratio of 97.08, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share. On average, equities research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS 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.