New Wave Wealth Advisors LLC Has $589,000 Stock Position in ServiceNow, Inc. $NOW

New Wave Wealth Advisors LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 8.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 573 shares of the information technology services provider’s stock after selling 54 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in ServiceNow were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new stake in shares of ServiceNow in the first quarter worth $382,000. Corient IA LLC acquired a new stake in shares of ServiceNow in the first quarter worth $796,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of ServiceNow in the first quarter worth $1,820,000. Goldman Sachs Group Inc. lifted its stake in shares of ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after buying an additional 840,731 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of ServiceNow in the first quarter worth $19,278,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Fipps sold 1,452 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider directly owned 457 shares in the company, valued at approximately $409,037.85. This represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock worth $16,798,825 in the last quarter. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Down 0.9%

NOW opened at $912.13 on Thursday. The firm’s 50-day simple moving average is $917.56 and its 200-day simple moving average is $928.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a market cap of $189.72 billion, a price-to-earnings ratio of 114.88, a PEG ratio of 4.15 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOW. Oppenheimer reiterated an “outperform” rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. DA Davidson upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Citigroup upped their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. BMO Capital Markets upped their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Bank of America upped their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,122.20.

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.