Maridea Wealth Management LLC Makes New $432,000 Investment in ServiceNow, Inc. $NOW

Maridea Wealth Management LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 420 shares of the information technology services provider’s stock, valued at approximately $432,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global X Japan Co. Ltd. acquired a new position in ServiceNow during the 2nd quarter worth approximately $30,000. Bogart Wealth LLC raised its position in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow during the first quarter worth approximately $26,000. WASHINGTON TRUST Co lifted its holdings in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in ServiceNow in the 1st quarter valued at $33,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.5%

NOW stock opened at $919.44 on Friday. The stock’s fifty day simple moving average is $920.28 and its two-hundred day simple moving average is $925.55. 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, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock has a market cap of $191.24 billion, a P/E ratio of 115.80, a P/E/G ratio of 4.20 and a beta of 0.91.

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

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the sale, the director owned 9,307 shares of the company’s stock, valued at approximately $8,516,928.77. The trade was a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Fipps sold 1,452 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the transaction, the insider owned 457 shares in the company, valued at approximately $409,037.85. The trade was a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,976 shares of company stock valued at $17,049,775 in the last three months. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NOW. Citigroup raised their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. Mizuho lifted their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. UBS Group lowered their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Finally, Jefferies Financial Group raised their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

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.