ServiceNow, Inc. $NOW Shares Bought by CFM Wealth Partners LLC

CFM Wealth Partners LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 19.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,639 shares of the information technology services provider’s stock after acquiring an additional 899 shares during the period. CFM Wealth Partners LLC’s holdings in ServiceNow were worth $5,797,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NOW. Vanguard Group Inc. grew its stake in shares of ServiceNow by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after buying an additional 297,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of ServiceNow by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after buying an additional 188,292 shares during the period. Nuveen LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at $1,817,535,000. Alliancebernstein L.P. grew its stake in shares of ServiceNow by 16.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock valued at $1,379,461,000 after buying an additional 242,132 shares during the period. Finally, Amundi grew its stake in shares of ServiceNow by 61.9% during the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after buying an additional 626,623 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOW. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Mizuho boosted their price objective 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. Guggenheim reissued a “sell” rating and set a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,122.20.

ServiceNow Stock Performance

NYSE:NOW 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. The firm has a 50-day moving average of $913.22 and a two-hundred day moving average of $931.27. The stock has a market cap of $189.96 billion, a P/E ratio of 115.02, a PEG ratio of 4.11 and a beta of 0.92. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

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

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 1,562 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the sale, the insider owned 3,027 shares in the company, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the sale, the chief financial officer owned 12,228 shares in the company, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock worth $16,798,825 over the last quarter. Company insiders own 0.38% of the company’s stock.

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.