CFM Wealth Partners LLC Increases Stock Position in ServiceNow, Inc. $NOW

CFM Wealth Partners LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 19.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,639 shares of the information technology services provider’s stock after purchasing an additional 899 shares during the quarter. CFM Wealth Partners LLC’s holdings in ServiceNow were worth $5,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in NOW. Brighton Jones LLC boosted its holdings in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in ServiceNow by 1.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 4,344 shares of the information technology services provider’s stock valued at $3,459,000 after purchasing an additional 68 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in ServiceNow by 3.2% in the 1st quarter. Park Avenue Securities LLC now owns 10,177 shares of the information technology services provider’s stock valued at $8,102,000 after purchasing an additional 314 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in ServiceNow by 42.4% in the 1st quarter. Capital Investment Advisors LLC now owns 4,733 shares of the information technology services provider’s stock valued at $3,768,000 after purchasing an additional 1,409 shares in the last quarter. Finally, NewSquare Capital LLC boosted its holdings in ServiceNow by 2.8% in the 1st quarter. NewSquare Capital LLC now owns 6,362 shares of the information technology services provider’s stock valued at $5,065,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 0.1%

Shares of ServiceNow stock opened at $913.27 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a market capitalization of $189.96 billion, a P/E ratio of 115.02, a P/E/G ratio of 4.11 and a beta of 0.92. The business has a 50 day moving average price of $913.22 and a 200 day moving average price of $931.27.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the firm posted $3.13 EPS. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Morgan Stanley upgraded shares of ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. Finally, Citigroup lifted their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at $10,594,950.60. The trade was a 12.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is 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.