Transform Wealth LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Transform Wealth LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 191 shares of the information technology services provider’s stock, valued at approximately $202,000.

Other large investors have also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in ServiceNow during the 3rd quarter valued at about $30,000. DT Investment Partners LLC boosted its holdings in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Semmax Financial Advisors Inc. purchased a new position in ServiceNow during the second quarter valued at approximately $39,000. Oakworth Capital Inc. increased its stake in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares during the period. Finally, Dunhill Financial LLC lifted its position in ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after buying an additional 21 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NOW. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Robert W. Baird raised their price target on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. UBS Group boosted their price target on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Mizuho raised their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,090.72.

Insider Activity at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 over the last three months. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $1,097.53 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company has a fifty day moving average price of $1,070.37 and a 200 day moving average price of $935.27. The stock has a market cap of $226.09 billion, a P/E ratio of 170.69, a PEG ratio of 4.85 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. Analysts anticipate that ServiceNow, Inc. will post 7.06 earnings per share for the current year.

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.