Diversify Wealth Management LLC Buys 42 Shares of ServiceNow, Inc. (NYSE:NOW)

Diversify Wealth Management LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,531 shares of the information technology services provider’s stock after buying an additional 42 shares during the period. Diversify Wealth Management LLC’s holdings in ServiceNow were worth $6,692,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NOW. Truvestments Capital LLC bought a new stake in ServiceNow in the 3rd quarter worth approximately $30,000. DT Investment Partners LLC lifted its holdings in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $39,000. Oakworth Capital Inc. grew its holdings in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC raised 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 purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the sale, the director now owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NOW opened at $1,072.02 on Monday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The stock has a 50-day moving average price of $1,069.67 and a 200-day moving average price of $932.23. The firm has a market cap of $220.84 billion, a PE ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99. 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 (NYSE:NOW) last posted its quarterly earnings results 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 firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The business’s revenue for the quarter 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOW. JMP Securities raised their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. BMO Capital Markets lifted their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Cantor Fitzgerald started coverage on shares of ServiceNow in a report on Friday. They issued an “overweight” rating and a $1,332.00 target price on the stock. Evercore ISI lifted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Oppenheimer increased their price target on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,080.38.

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.