RWA Wealth Partners LLC Has $6.48 Million Stake in ServiceNow, Inc. (NYSE:NOW)

RWA Wealth Partners LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 170.8% in the fourth quarter, Holdings Channel reports. The fund owned 9,178 shares of the information technology services provider’s stock after acquiring 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 quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. PFG Private Wealth Management LLC acquired a new position in ServiceNow in the third quarter valued at about $28,000. AdvisorNet Financial Inc grew its stake 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 acquiring an additional 32 shares during the period. Steward Financial Group LLC grew its stake in ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 35 shares during the period. Princeton Global Asset Management LLC acquired a new position in ServiceNow in the third quarter valued at about $35,000. Finally, OFI Invest Asset Management acquired a new position in ServiceNow in the third quarter valued at about $41,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NOW shares. JMP Securities boosted their price target on ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a report on Monday, January 22nd. Mizuho boosted their price target on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. KeyCorp started coverage on ServiceNow in a report on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price target on the stock. Wells Fargo & Company boosted their price target on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Tuesday, April 16th. Three investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $780.37.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul John Smith sold 1,795 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

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

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The firm’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 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.