Western Wealth Management LLC Has $892,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

Western Wealth Management LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 39.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,262 shares of the information technology services provider’s stock after buying an additional 356 shares during the quarter. Western Wealth Management LLC’s holdings in ServiceNow were worth $892,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NOW. PFG Private Wealth Management LLC acquired a new stake in ServiceNow in the third quarter valued at about $28,000. First Capital Advisors Group LLC. acquired a new stake in ServiceNow in the second quarter valued at about $29,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow in the first quarter valued at about $29,000. AdvisorNet Financial Inc boosted 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 buying an additional 32 shares in the last quarter. Finally, Steward Financial Group LLC boosted 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 buying an additional 35 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the firm’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 completion of the sale, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial raised their price objective on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. JMP Securities increased their target price on ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a research report on Monday, January 22nd. Piper Sandler increased their target price on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Robert W. Baird increased their target price on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada increased their target price on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $780.37.

ServiceNow Trading Down 2.4 %

Shares of NOW stock opened at $713.91 on Friday. The company has a market cap of $146.62 billion, a P/E ratio of 84.89, a PEG ratio of 4.51 and a beta of 0.97. The stock has a 50 day simple moving average of $764.19 and a two-hundred day simple moving average of $702.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32.

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