68 Shares in ServiceNow, Inc. $NOW Acquired by RMG Wealth Management LLC

RMG Wealth Management LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 68 shares of the information technology services provider’s stock, valued at approximately $65,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow during the second quarter worth approximately $30,000. Bogart Wealth LLC raised its stake 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 buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow during the first quarter worth approximately $26,000. WASHINGTON TRUST Co raised its stake in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares during the last quarter. Finally, Dagco Inc. bought a new stake in shares of ServiceNow during the first quarter worth approximately $33,000. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 6,614 shares in the company, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel owned 4,332 shares of the company’s stock, valued at $3,830,614.32. The trade was a 28.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOW. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. 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 report on Thursday, July 24th. Barclays set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. Finally, Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

ServiceNow Stock Up 0.1%

ServiceNow stock opened at $913.27 on Tuesday. The stock has a market capitalization of $189.96 billion, a PE ratio of 115.02, a price-to-earnings-growth ratio of 4.11 and a beta of 0.92. 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 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $913.22 and a 200-day moving average of $931.27.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.13 earnings per share. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.