Mmbg Investment Advisors CO. Acquires New Position in ServiceNow, Inc. (NYSE:NOW)

Mmbg Investment Advisors CO. acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,085 shares of the information technology services provider's stock, valued at approximately $864,000.

Several other institutional investors also recently bought and sold shares of NOW. Brighton Jones LLC grew its position in ServiceNow by 1.1% during the 4th 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 during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after acquiring an additional 666,383 shares during the last quarter. Verus Capital Partners LLC boosted its holdings in shares of ServiceNow by 63.1% during the 4th quarter. Verus Capital Partners LLC now owns 393 shares of the information technology services provider's stock valued at $417,000 after acquiring an additional 152 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of ServiceNow by 15.2% during the 4th quarter. Private Trust Co. NA now owns 431 shares of the information technology services provider's stock valued at $457,000 after acquiring an additional 57 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $1,672,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.2%

ServiceNow stock opened at $1,023.56 on Friday. The stock has a market cap of $211.86 billion, a P/E ratio of 139.07, a PEG ratio of 4.70 and a beta of 0.95. 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's 50 day moving average price is $985.61 and its 200-day moving average price is $965.98.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.41 earnings per share. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOW. Piper Sandler dropped their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Robert W. Baird raised their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. TD Securities reaffirmed a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Guggenheim raised their price target on shares of ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a report on Thursday, April 24th. Finally, William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,065.32.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 428 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the sale, the director now owns 10,891 shares in the company, valued at approximately $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer now owns 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,716 shares of company stock worth $6,611,245. 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.

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