MRA Advisory Group Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

MRA Advisory Group increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 54.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. Norges Bank bought a new position in ServiceNow in the fourth quarter worth approximately $1,648,259,000. Massachusetts Financial Services Co. MA lifted its holdings in ServiceNow by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after buying an additional 81,028 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after acquiring an additional 271,153 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after acquiring an additional 34,855 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $825.04 on Friday. The business has a fifty day moving average of $799.33 and a 200-day moving average of $762.85. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $863.85. The stock has a market cap of $169.13 billion, a price-to-earnings ratio of 88.24, a price-to-earnings-growth ratio of 5.13 and a beta of 0.98. 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 (NYSE:NOW) last posted its quarterly earnings data 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 net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Robert W. Baird increased their price target on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Citigroup lifted their target price on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. KeyCorp decreased their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, BMO Capital Markets increased their price target on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $849.62.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by corporate insiders.

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.