One Wealth Capital Management LLC Invests $1.26 Million in ServiceNow, Inc. (NYSE:NOW)

One Wealth Capital Management LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,192 shares of the information technology services provider’s stock, valued at approximately $1,264,000. ServiceNow comprises 0.6% of One Wealth Capital Management LLC’s holdings, making the stock its 29th biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its position in ServiceNow by 2.6% in the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after buying an additional 226,023 shares during the last quarter. FMR LLC lifted its stake in shares of ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after acquiring an additional 502,845 shares during the period. World Investment Advisors LLC boosted its holdings in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after acquiring an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC increased its position in ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the period. Finally, Wellington Management Group LLP raised its holdings in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $20,861,626 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. Scotiabank initiated coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Piper Sandler upped their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday. BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Stifel Nicolaus upped their price objective on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, TD Cowen raised their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,061.04.

ServiceNow Stock Down 2.8 %

NOW traded down $29.84 during trading hours on Tuesday, hitting $1,047.21. 778,086 shares of the company’s stock were exchanged, compared to its average volume of 864,584. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The stock’s 50-day moving average is $1,056.15 and its two-hundred day moving average is $915.86. The stock has a market cap of $215.73 billion, a price-to-earnings ratio of 162.86, a PEG ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

ServiceNow 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.