CMH Wealth Management LLC Invests $3.42 Million in ServiceNow, Inc. (NYSE:NOW)

CMH Wealth Management LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOWGet Rating) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,191 shares of the information technology services provider’s stock, valued at approximately $3,419,000.

Other large investors have also recently bought and sold shares of the company. Hancock Whitney Corp grew its holdings in shares of ServiceNow by 3.3% in the 1st quarter. Hancock Whitney Corp now owns 1,977 shares of the information technology services provider’s stock worth $1,101,000 after purchasing an additional 64 shares during the last quarter. Prospera Financial Services Inc acquired a new position in ServiceNow during the 1st quarter valued at about $996,000. Brookstone Capital Management lifted its position in ServiceNow by 5.1% during the 2nd quarter. Brookstone Capital Management now owns 1,690 shares of the information technology services provider’s stock valued at $835,000 after purchasing an additional 82 shares during the period. Walleye Capital LLC raised its position in shares of ServiceNow by 54.8% in the 4th quarter. Walleye Capital LLC now owns 7,084 shares of the information technology services provider’s stock valued at $4,598,000 after acquiring an additional 2,507 shares during the period. Finally, Exane Derivatives raised its position in shares of ServiceNow by 7.0% in the 1st quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock valued at $806,000 after acquiring an additional 95 shares during the period. 87.49% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

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

ServiceNow (NYSE:NOWGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping 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 business 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 EPS. The firm’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.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of analyst reports. Piper Sandler cut their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Cowen decreased their target price on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Guggenheim initiated coverage on ServiceNow in a report on Friday, August 12th. They set a “neutral” rating and a $510.00 price target for the company. Canaccord Genuity Group cut their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Finally, Wells Fargo & Company dropped their target price on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $593.29.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 4,812 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $438.99, for a total value of $2,112,419.88. Following the sale, the general counsel now owns 9,293 shares of the company’s stock, valued at approximately $4,079,534.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 4,812 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $438.99, for a total value of $2,112,419.88. Following the sale, the general counsel now owns 9,293 shares of the company’s stock, valued at approximately $4,079,534.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul John Smith sold 130 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $502.81, for a total value of $65,365.30. Following the transaction, the insider now owns 2,157 shares in the company, valued at $1,084,561.17. The disclosure for this sale can be found here. Insiders have sold a total of 32,922 shares of company stock valued at $15,146,557 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

About ServiceNow

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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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