1,592 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by RMR Wealth Builders

RMR Wealth Builders purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,592 shares of the information technology services provider’s stock, valued at approximately $1,267,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock worth $20,353,517,000 after acquiring an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after acquiring an additional 509,467 shares during the period. FMR LLC raised its holdings in shares of ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after acquiring an additional 272,506 shares during the period. Geode Capital Management LLC raised its holdings in shares of ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock worth $4,560,890,000 after acquiring an additional 100,670 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $1,006.03 on Friday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $939.30 and a two-hundred day simple moving average of $974.01. The stock has a market capitalization of $208.23 billion, a price-to-earnings ratio of 147.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.41 EPS. Analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 248 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total value of $250,266.72. Following the sale, the director now directly owns 10,643 shares of the company’s stock, valued at approximately $10,740,277.02. This represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider now directly owns 3,000 shares in the company, valued at approximately $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock worth $6,611,245 in the last three months. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NOW has been the topic of a number of research analyst reports. Guggenheim raised their price objective on shares of ServiceNow from $716.00 to $724.00 and gave the stock a “sell” rating in a report on Thursday, April 24th. Redburn Atlantic began coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. TD Securities reaffirmed a “buy” rating and issued a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Morgan Stanley raised their target price on shares of ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,062.50.

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.