RMR Wealth Builders Takes $1.27 Million Position in ServiceNow, Inc. (NYSE:NOW)

RMR Wealth Builders bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,592 shares of the information technology services provider's stock, valued at approximately $1,267,000.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in ServiceNow in the fourth quarter worth $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the fourth quarter worth $32,000. FPC Investment Advisory Inc. increased its position in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new stake in ServiceNow in the fourth quarter worth $34,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 62 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,431,636. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. This trade represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,716 shares of company stock valued at $6,611,245. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Down 2.0%

ServiceNow stock traded down $19.66 during mid-day trading on Friday, hitting $987.71. The company's stock had a trading volume of 1,332,159 shares, compared to its average volume of 1,483,399. The firm's 50 day moving average is $944.56 and its 200 day moving average is $972.97. The company has a market cap of $204.44 billion, a PE ratio of 144.61, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business's revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.41 EPS. On average, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. Redburn Atlantic initiated coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. William Blair reissued an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. Robert W. Baird increased their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Oppenheimer reissued an "outperform" rating and issued a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, TD Securities reissued a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

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.