CMH Wealth Management LLC Purchases Shares of 7,191 ServiceNow, Inc. (NYSE:NOW)

CMH Wealth Management LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOWGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,191 shares of the information technology services provider’s stock, valued at approximately $3,419,000.

Several other hedge funds have also bought and sold shares of NOW. Hilltop Holdings Inc. lifted its position in shares of ServiceNow by 4.4% in the fourth quarter. Hilltop Holdings Inc. now owns 566 shares of the information technology services provider’s stock valued at $367,000 after acquiring an additional 24 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of ServiceNow by 19.3% in the fourth quarter. Mutual Advisors LLC now owns 1,576 shares of the information technology services provider’s stock valued at $1,023,000 after acquiring an additional 255 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of ServiceNow by 11.7% in the fourth quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock valued at $1,898,748,000 after acquiring an additional 305,908 shares in the last quarter. ETF Managers Group LLC lifted its position in shares of ServiceNow by 4.8% in the fourth quarter. ETF Managers Group LLC now owns 1,363 shares of the information technology services provider’s stock valued at $892,000 after acquiring an additional 63 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of ServiceNow in the fourth quarter valued at about $239,000. Institutional investors own 87.49% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the sale, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, Director Lawrence Jackson sold 707 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $446.40, for a total transaction of $315,604.80. Following the sale, the director now owns 660 shares of the company’s stock, valued at approximately $294,624. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,922 shares of company stock valued at $15,146,557. 0.28% of the stock is currently owned by corporate insiders.

ServiceNow Trading Down 3.2 %

Shares of NOW traded down $12.30 during mid-day trading on Friday, reaching $374.67. 75,765 shares of the company’s stock traded hands, compared to its average volume of 1,278,962. The stock has a market cap of $75.68 billion, a P/E ratio of 413.97, a P/E/G ratio of 8.17 and a beta of 0.94. The stock’s 50-day moving average is $454.93 and its two-hundred day moving average is $479.32. ServiceNow, Inc. has a 12 month low of $386.70 and a 12 month high of $707.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOWGet Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 24.3% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. Mizuho lowered their price objective on ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Barclays decreased their target price on ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. JMP Securities decreased their target price on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. Citigroup decreased their target price on ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Finally, Wells Fargo & Company decreased their target price on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $593.29.

ServiceNow Company Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

See Also

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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