276 Shares in ServiceNow, Inc. $NOW Bought by Northwest Wealth Management LLC

Key Points

• Northwest Wealth Management LLC has acquired 276 shares of ServiceNow, Inc., valued at approximately $284,000, during the second quarter.
• ServiceNow reported a 22.4% increase in quarterly revenue year-over-year, with earnings per share of $4.09, surpassing analysts' expectations.
• The stock has received numerous upgrades from brokerages, with a consensus rating of "Moderate Buy" and an average target price of $1,122.20.

Northwest Wealth Management LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 276 shares of the information technology services provider's stock, valued at approximately $284,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new position in ServiceNow in the first quarter worth approximately $382,000. Corient IA LLC bought a new position in shares of ServiceNow in the 1st quarter worth $796,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of ServiceNow in the first quarter valued at $1,820,000. ASR Vermogensbeheer N.V. bought a new position in shares of ServiceNow in the first quarter valued at $19,278,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after buying an additional 840,731 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In related news, 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 value 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. This represents a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,976 shares of company stock worth $17,049,775. Company insiders own 0.38% of the company's stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $940.05 on Tuesday. The firm has a market capitalization of $195.53 billion, a P/E ratio of 118.39, a P/E/G ratio of 4.22 and a beta of 0.91. 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 stock's 50-day simple moving average is $919.33 and its two-hundred day simple moving average is $928.48. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion for 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%. ServiceNow's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.13 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Guggenheim restated a "sell" rating and issued a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. Raymond James Financial raised their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, DA Davidson raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,122.20.

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.

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