Members Wealth LLC Purchases New Stake in ServiceNow, Inc. (NYSE:NOW)

Members Wealth LLC bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 273 shares of the information technology services provider's stock, valued at approximately $268,000.

A number of other institutional investors also recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of ServiceNow during the fourth quarter worth about $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow during the fourth quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow during the fourth quarter worth approximately $32,000. FPC Investment Advisory Inc. grew its position in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new position in ServiceNow in the 4th quarter valued at $34,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent analyst reports. BMO Capital Markets raised their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Royal Bank of Canada boosted their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and issued a $1,050.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Evercore ISI boosted their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $3.43 during trading on Friday, reaching $1,011.80. The company's stock had a trading volume of 2,663,194 shares, compared to its average volume of 1,516,529. The stock has a 50-day moving average price of $899.20 and a two-hundred day moving average price of $975.24. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The stock has a market capitalization of $209.43 billion, a P/E ratio of 148.14, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

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 analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the business posted $3.41 earnings per share. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the business'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 approximately $4,431,636. The trade was a 1.41% 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 292 shares of the business'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 now owns 11,198 shares of the company's stock, valued at $11,030,030. The trade was a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,102 shares of company stock valued at $2,944,038. 0.38% of the stock is currently owned by insiders.

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.