Western Financial Corp CA Has $750,000 Stock Holdings in ServiceNow, Inc. $NOW

Western Financial Corp CA lessened its position in ServiceNow, Inc. (NYSE:NOW) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 730 shares of the information technology services provider’s stock after selling 34 shares during the quarter. Western Financial Corp CA’s holdings in ServiceNow were worth $750,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Brighton Jones LLC increased its position in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after purchasing an additional 30 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of ServiceNow by 28.1% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,383 shares of the information technology services provider’s stock worth $1,467,000 after purchasing an additional 303 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $81,000. Marcum Wealth LLC increased its position in shares of ServiceNow by 45.3% during the 1st quarter. Marcum Wealth LLC now owns 988 shares of the information technology services provider’s stock worth $787,000 after purchasing an additional 308 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of ServiceNow by 91.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,766 shares of the information technology services provider’s stock worth $3,794,000 after purchasing an additional 2,277 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOW. Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Barclays set a $1,210.00 price target on ServiceNow in a research report on Thursday, July 24th. Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Jefferies Financial Group boosted their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, BMO Capital Markets boosted their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,122.20.

Insiders Place Their Bets

In related news, insider Paul Fipps sold 1,452 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares in the company, valued at $409,037.85. The trade was a 76.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director owned 9,307 shares of the company’s stock, valued at $8,516,928.77. This trade represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,976 shares of company stock worth $17,049,775 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 2.0%

NOW stock opened at $936.76 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $194.85 billion, a PE ratio of 117.98, a PEG ratio of 4.14 and a beta of 0.91. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The business’s 50 day simple moving average is $919.74 and its 200 day simple moving average is $926.42.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion during 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%.The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.13 EPS. As a group, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.