Western Wealth Management LLC Has $2.06 Million Stake in ServiceNow, Inc. $NOW

Western Wealth Management LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 35.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,660 shares of the information technology services provider’s stock after acquiring an additional 5,167 shares during the period. Western Wealth Management LLC’s holdings in ServiceNow were worth $2,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Covenant Asset Management LLC boosted its stake in ServiceNow by 169.2% during the fourth quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after buying an additional 13,114 shares in the last quarter. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at $2,020,992,000. World Investment Advisors lifted its holdings in shares of ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after acquiring an additional 38,583 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after acquiring an additional 36,274 shares during the period. Finally, Torray Investment Partners LLC boosted its position in shares of ServiceNow by 390.5% during the 4th quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider’s stock valued at $6,224,000 after acquiring an additional 32,345 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 18,993 shares of company stock worth $1,716,436 in the last three months. Insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $127.51 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market cap of $131.85 billion, a PE ratio of 79.69, a price-to-earnings-growth ratio of 2.24 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The company’s 50-day moving average price is $106.56 and its two-hundred day moving average price is $105.74.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the business posted $0.81 earnings per share. The company’s revenue was up 24.0% on a year-over-year basis. On average, equities analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the subject of several recent research reports. Wolfe Research set a $125.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Canaccord Genuity Group decreased their price objective on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective (up from $130.00) on shares of ServiceNow in a research note on Wednesday, July 15th. Morgan Stanley set a $180.00 target price on ServiceNow in a report on Tuesday, July 21st. Finally, BMO Capital Markets boosted their price target on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $143.39.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.