ServiceNow, Inc. $NOW Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in ServiceNow, Inc. by 298.5% in the first quarter, holding 65,013 shares valued at approximately $51.76 million.
• Insider trading activity included CFO Gina Mastantuono selling 1,762 shares for around $1.53 million, indicating a significant decrease in her ownership of the stock.
• ServiceNow reported a 22.4% year-over-year increase in revenue, achieving $3.22 billion for the quarter, and surpassed analysts' earnings estimates with $4.09 earnings per share.

Northwestern Mutual Wealth Management Co. lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 298.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 65,013 shares of the information technology services provider's stock after acquiring an additional 48,698 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in ServiceNow were worth $51,759,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC raised its holdings in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in ServiceNow in the first quarter valued at approximately $26,000. Quarry LP acquired a new position in ServiceNow during the fourth quarter worth approximately $27,000. WASHINGTON TRUST Co increased its position in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares during the period. Finally, Dagco Inc. acquired a new position in ServiceNow during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insiders Place Their Bets

In related news, CFO Gina Mastantuono sold 1,762 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. This represents a 12.59% 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, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares of the company's stock, valued at $2,599,350. This trade represents a 36.43% 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 currently owned by insiders.

ServiceNow Stock Performance

NYSE:NOW opened at $885.7930 on Friday. The firm has a 50 day simple moving average of $955.00 and a 200-day simple moving average of $929.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $184.24 billion, a PE ratio of 111.56, a P/E/G ratio of 4.00 and a beta of 0.93. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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 business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company's revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.13 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent research reports. Scotiabank set a $1,100.00 price objective on ServiceNow and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a research report on Tuesday, July 29th. Raymond James Financial increased their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Bank of America increased their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

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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