Caliber Wealth Management LLC KS Acquires New Position in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Caliber Wealth Management LLC KS acquired 739 shares of ServiceNow, Inc., valued at approximately $588,000, in the first quarter of the year.
• Recently, ServiceNow experienced analyst rating changes, with upgrades from Wells Fargo and Truist Financial, while Wall Street Zen downgraded it from "buy" to "hold".
• ServiceNow reported Q2 earnings of $4.09 EPS, surpassing estimates of $3.57, with revenue of $3.22 billion, reflecting a 22.4% year-over-year growth.

Caliber Wealth Management LLC KS purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 739 shares of the information technology services provider's stock, valued at approximately $588,000.

A number of other large investors have also made changes to their positions in NOW. Brighton Jones LLC grew its position in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in ServiceNow by 6.9% in the fourth quarter. Modern Wealth Management LLC now owns 355 shares of the information technology services provider's stock valued at $363,000 after acquiring an additional 23 shares during the last quarter. Ausdal Financial Partners Inc. lifted its holdings in ServiceNow by 5.8% in the fourth quarter. Ausdal Financial Partners Inc. now owns 671 shares of the information technology services provider's stock valued at $711,000 after acquiring an additional 37 shares during the last quarter. WINTON GROUP Ltd acquired a new position in ServiceNow in the fourth quarter valued at approximately $269,000. Finally, Loomis Sayles & Co. L P lifted its holdings in ServiceNow by 26.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,612 shares of the information technology services provider's stock valued at $1,709,000 after acquiring an additional 335 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW stock traded down $10.55 during mid-day trading on Wednesday, hitting $982.65. 313,141 shares of the stock were exchanged, compared to its average volume of 1,682,422. The stock's fifty day simple moving average is $998.96 and its two-hundred day simple moving average is $951.86. The stock has a market capitalization of $204.39 billion, a price-to-earnings ratio of 123.81, a P/E/G ratio of 4.44 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the company posted $3.13 earnings per share. The business's revenue was up 22.4% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays set a $1,210.00 price objective on ServiceNow in a report on Thursday, July 24th. Bank of America upped their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a report on Tuesday, July 8th. Evercore ISI upped their price objective on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded ServiceNow from a "hold" rating to a "buy" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the transaction, the insider owned 3,000 shares of the company's stock, valued at $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gina Mastantuono sold 292 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $287,620.00. Following the transaction, the chief financial officer directly owned 11,198 shares in the company, valued at approximately $11,030,030. This represents a 2.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,233 shares of company stock valued at $5,297,758. Insiders own 0.38% of the company's stock.

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.