ServiceNow, Inc. (NYSE:NOW) Shares Sold by CMH Wealth Management LLC

CMH Wealth Management LLC reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,173 shares of the information technology services provider’s stock after selling 237 shares during the quarter. ServiceNow comprises about 3.0% of CMH Wealth Management LLC’s portfolio, making the stock its 8th biggest position. CMH Wealth Management LLC’s holdings in ServiceNow were worth $12,905,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. World Investment Advisors LLC lifted its holdings in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after buying an additional 935,848 shares during the last quarter. Wellington Management Group LLP increased its position in shares of ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after acquiring an additional 615,797 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after acquiring an additional 502,845 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NOW. Needham & Company LLC lifted their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Raymond James started coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target for the company. Piper Sandler increased their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. UBS Group lifted their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, BMO Capital Markets increased their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,080.38.

ServiceNow Stock Up 1.4 %

NOW stock opened at $1,072.02 on Tuesday. The stock has a 50-day simple moving average of $1,069.67 and a two-hundred day simple moving average of $933.26. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The firm has a market capitalization of $220.84 billion, a PE ratio of 166.72, a PEG ratio of 4.85 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. ServiceNow’s revenue was up 22.2% on a year-over-year basis. On average, equities analysts predict that ServiceNow, Inc. will post 7.06 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 81 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the completion of the sale, the general counsel now directly owns 6,843 shares in the company, valued at $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by company insiders.

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.