FSM Wealth Advisors LLC Invests $322,000 in ServiceNow, Inc. $NOW

by · The Cerbat Gem

FSM Wealth Advisors LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 311 shares of the information technology services provider’s stock, valued at approximately $322,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. KPP Advisory Services LLC boosted its holdings in shares of ServiceNow by 8.2% in the 2nd quarter. KPP Advisory Services LLC now owns 1,033 shares of the information technology services provider’s stock worth $1,062,000 after purchasing an additional 78 shares during the period. Paragon Advisors LLC lifted its holdings in shares of ServiceNow by 83.3% in the 2nd quarter. Paragon Advisors LLC now owns 7,394 shares of the information technology services provider’s stock worth $7,602,000 after acquiring an additional 3,360 shares during the last quarter. Insight Advisors LLC PA purchased a new position in shares of ServiceNow during the 2nd quarter worth about $280,000. Strategic Blueprint LLC grew its holdings in ServiceNow by 65.0% during the 2nd quarter. Strategic Blueprint LLC now owns 424 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 167 shares during the last quarter. Finally, Freedom Investment Management Inc. lifted its stake in ServiceNow by 2.9% in the second quarter. Freedom Investment Management Inc. now owns 456 shares of the information technology services provider’s stock worth $470,000 after purchasing an additional 13 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $939.60 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $916.59 and its 200-day moving average price is $939.53. The firm has a market cap of $195.44 billion, a P/E ratio of 118.34, a P/E/G ratio of 4.21 and a beta of 0.92. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.13 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other news, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the transaction, the insider directly owned 457 shares in the company, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares of the company’s stock, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock valued at $16,798,825 over the last 90 days. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NOW. Wells Fargo & Company increased their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Citigroup upped their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Oppenheimer reiterated an “outperform” rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Raymond James Financial lifted their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,124.17.

Check Out Our Latest Stock Report on NOW

About ServiceNow

(Free Report)

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.

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