CFM Wealth Partners LLC Buys 423 Shares of ServiceNow, Inc. (NYSE:NOW)

CFM Wealth Partners LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,740 shares of the information technology services provider's stock after acquiring an additional 423 shares during the period. CFM Wealth Partners LLC's holdings in ServiceNow were worth $3,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Little House Capital LLC bought a new stake in ServiceNow in the 1st quarter valued at $940,000. Patron Partners LLC lifted its holdings in shares of ServiceNow by 6.8% during the first quarter. Patron Partners LLC now owns 818 shares of the information technology services provider's stock worth $651,000 after buying an additional 52 shares in the last quarter. Westwind Capital boosted its position in shares of ServiceNow by 3.6% in the first quarter. Westwind Capital now owns 23,958 shares of the information technology services provider's stock valued at $19,074,000 after acquiring an additional 827 shares during the period. Confluence Wealth Services Inc. grew its stake in shares of ServiceNow by 114.1% in the first quarter. Confluence Wealth Services Inc. now owns 773 shares of the information technology services provider's stock valued at $628,000 after acquiring an additional 412 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in ServiceNow by 5.7% during the first quarter. Sunbelt Securities Inc. now owns 2,897 shares of the information technology services provider's stock worth $2,306,000 after acquiring an additional 155 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling

In other ServiceNow news, Director Deborah Black sold 598 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $940.23, for a total transaction of $562,257.54. Following the sale, the director now owns 428 shares of the company's stock, valued at approximately $402,418.44. This represents a 58.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock valued at $6,611,245 in the last three months. Insiders own 0.38% of the company's stock.

ServiceNow Stock Up 1.2%

Shares of NYSE NOW opened at $1,023.56 on Friday. The company has a 50 day simple moving average of $985.61 and a 200 day simple moving average of $965.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm has a market cap of $211.86 billion, a PE ratio of 139.07, a price-to-earnings-growth ratio of 4.70 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the firm earned $3.41 earnings per share. The company's revenue for the quarter was up 18.6% on a year-over-year basis. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NOW shares. Evercore ISI boosted their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Mizuho increased their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Robert W. Baird lifted their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and increased their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,065.32.

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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