RWA Wealth Partners LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

RWA Wealth Partners LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 170.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,178 shares of the information technology services provider’s stock after buying an additional 5,789 shares during the period. RWA Wealth Partners LLC’s holdings in ServiceNow were worth $6,484,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its holdings in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. PFG Private Wealth Management LLC purchased a new position in ServiceNow in the third quarter valued at about $28,000. Fortitude Family Office LLC purchased a new position in ServiceNow in the fourth quarter valued at about $41,000. Oliver Lagore Vanvalin Investment Group grew its position in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $44,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 over the last 90 days. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on NOW shares. Royal Bank of Canada increased their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Mizuho increased their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Robert W. Baird increased their price target on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research report on Tuesday, April 16th. Finally, JMP Securities increased their price target on shares of ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a research report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $780.37.

ServiceNow Stock Up 0.7 %

NYSE NOW opened at $727.01 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50 day simple moving average is $762.90 and its 200 day simple moving average is $705.19. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The company has a market capitalization of $149.31 billion, a P/E ratio of 85.92, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. Equities research analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

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.