Circle Wealth Management LLC Boosts Holdings in ServiceNow, Inc. $NOW

Key Points

• Circle Wealth Management LLC increased its holdings in ServiceNow, Inc. by 20.9% in Q1, bringing its total share ownership to 3,262 shares, valued at approximately $2.6 million.
• ServiceNow reported an EPS of $4.09 for the latest quarter, exceeding estimates by $0.52, and achieved a revenue of $3.22 billion, a 22.4% year-over-year increase.
• Analysts have given ServiceNow a consensus rating of "Moderate Buy", with a target price averaging around $1,115.20, indicating strong investor interest and potential for future growth.

Circle Wealth Management LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,262 shares of the information technology services provider's stock after buying an additional 565 shares during the quarter. Circle Wealth Management LLC's holdings in ServiceNow were worth $2,597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quarry LP bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $27,000. Bogart Wealth LLC increased its holdings in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow during the first quarter valued at approximately $26,000. Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth about $37,000. Finally, WASHINGTON TRUST Co grew its holdings in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

NOW stock opened at $877.6850 on Friday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The business's fifty day simple moving average is $957.04 and its two-hundred day simple moving average is $930.56. The firm has a market cap of $182.56 billion, a price-to-earnings ratio of 110.54, a PEG ratio of 4.01 and a beta of 0.93. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS 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 the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow's quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the business posted $3.13 EPS. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NOW. Stifel Nicolaus upped their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Piper Sandler lifted their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. JMP Securities reiterated a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Royal Bank Of Canada increased their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Barclays set a $1,210.00 target price on ServiceNow in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the sale, the chief financial officer owned 12,228 shares in the company, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,096 shares of company stock valued at $14,807,562. 0.38% of the stock is owned by company insiders.

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.

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