ServiceNow, Inc. $NOW Stock Position Increased by Western Wealth Management LLC

Western Wealth Management LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 35.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,660 shares of the information technology services provider’s stock after buying an additional 5,167 shares during the quarter. Western Wealth Management LLC’s holdings in ServiceNow were worth $2,055,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NOW. Vanguard Group Inc. boosted its position in shares of ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after purchasing an additional 81,752,460 shares in the last quarter. State Street Corp lifted its stake in ServiceNow by 406.6% during the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after purchasing an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ServiceNow by 371.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after purchasing an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after buying an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after buying an additional 17,514,679 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. BMO Capital Markets upped their price target on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Cantor Fitzgerald raised their price objective on ServiceNow from $122.00 to $141.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. HSBC decreased their target price on ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Bank of America started coverage on ServiceNow in a report on Monday, May 18th. They set a “buy” rating and a $130.00 target price for the company. Finally, Canaccord Genuity Group decreased their price target on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.39.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,993 shares of company stock valued at $1,716,436 in the last three months. Insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

NOW stock opened at $127.51 on Wednesday. The firm has a 50 day simple moving average of $106.56 and a 200 day simple moving average of $105.74. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The stock has a market cap of $131.85 billion, a P/E ratio of 79.69, a P/E/G ratio of 2.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s revenue was up 24.0% compared to the same quarter last year. Research analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.