Retirement Wealth Solutions LLC Buys Shares of 62 ServiceNow, Inc. (NYSE:NOW)

Retirement Wealth Solutions LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 62 shares of the information technology services provider’s stock, valued at approximately $64,000.

Other institutional investors have also made changes to their positions in the company. Bradley Foster & Sargent Inc. CT bought a new stake in shares of ServiceNow in the 2nd quarter valued at $256,000. Mercer Global Advisors Inc. ADV raised its holdings in ServiceNow by 33.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 10,371 shares of the information technology services provider’s stock worth $8,159,000 after buying an additional 2,595 shares during the period. Intech Investment Management LLC lifted its stake in ServiceNow by 7.6% in the second quarter. Intech Investment Management LLC now owns 6,388 shares of the information technology services provider’s stock valued at $5,025,000 after buying an additional 450 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of ServiceNow by 0.7% in the second quarter. Brighton Jones LLC now owns 2,959 shares of the information technology services provider’s stock valued at $2,328,000 after buying an additional 20 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of ServiceNow by 24.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,569 shares of the information technology services provider’s stock worth $7,528,000 after acquiring an additional 1,893 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE:NOW opened at $1,072.02 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The company has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99. The stock has a fifty day moving average price of $1,068.39 and a 200-day moving average price of $929.31.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,731 shares of company stock worth $21,016,751. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Mizuho upped their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. UBS Group lifted their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets boosted their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Barclays raised their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,080.38.

About ServiceNow

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.