ServiceNow, Inc. $NOW Shares Bought by Wolff Wiese Magana LLC

Key Points

• Wolff Wiese Magana LLC increased its holdings in ServiceNow, Inc. by 39%, now owning 1,222 shares worth approximately $1.26 million.
• ServiceNow reported a quarterly earnings per share of $4.09, exceeding analysts' estimates of $3.57, with year-over-year revenue growth of 22.4%.
• Currently, 87.18% of ServiceNow's stock is held by hedge funds and institutional investors, indicating strong institutional interest.

Wolff Wiese Magana LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 39.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,222 shares of the information technology services provider's stock after purchasing an additional 343 shares during the quarter. Wolff Wiese Magana LLC's holdings in ServiceNow were worth $1,256,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $382,000. Corient IA LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $796,000. Parr Mcknight Wealth Management Group LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $1,820,000. Goldman Sachs Group Inc. increased its holdings in shares of ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after purchasing an additional 840,731 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $19,278,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 2.0%

Shares of NOW stock opened at $936.76 on Monday. The stock's fifty day moving average is $919.74 and its two-hundred day moving average is $927.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $194.85 billion, a P/E ratio of 117.98, a PEG ratio of 4.22 and a beta of 0.91. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

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

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent research reports. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Guggenheim reissued a "sell" rating and issued a $724.00 price target on shares of ServiceNow in a research note on Thursday, July 17th. Jefferies Financial Group lifted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley raised shares of ServiceNow from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Finally, Mizuho lifted their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,122.20.

Insider Activity

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 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 transaction of $1,489,427.55. Following the transaction, the insider owned 3,000 shares of the company's stock, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $1,526,684.90. Following the transaction, the chief financial officer directly 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. In the last 90 days, insiders have sold 18,976 shares of company stock worth $17,049,775. Insiders own 0.38% of the company's stock.

ServiceNow 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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