RMR Wealth Builders Grows Holdings in ServiceNow, Inc. $NOW

RMR Wealth Builders increased its position in ServiceNow, Inc. (NYSE:NOW) by 12.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,798 shares of the information technology services provider’s stock after purchasing an additional 206 shares during the period. RMR Wealth Builders’ holdings in ServiceNow were worth $1,848,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NOW. Brighton Jones LLC boosted its stake 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 worth $2,919,000 after purchasing an additional 30 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in ServiceNow by 11.3% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,213 shares of the information technology services provider’s stock worth $3,406,000 after purchasing an additional 326 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in ServiceNow in the 4th quarter worth about $457,000. Strive Asset Management LLC bought a new position in ServiceNow during the 4th quarter valued at about $1,015,000. Finally, Strategic Wealth Partners Ltd. bought a new position in ServiceNow during the 4th quarter valued at about $241,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 0.9%

ServiceNow stock opened at $930.04 on Monday. The firm has a 50 day moving average of $927.34 and a 200 day moving average of $922.34. The firm has a market capitalization of $193.45 billion, a price-to-earnings ratio of 117.13, a P/E/G ratio of 4.18 and a beta of 0.91. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last released its earnings results 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 net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the firm posted $3.13 EPS. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity

In other news, insider Jacqueline P. Canney sold 1,562 shares of the 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 $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares in the company, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NOW. Guggenheim restated a “sell” rating and set a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. 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. JMP Securities restated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. 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. Finally, Mizuho upped their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,115.20.

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.