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

FSM Wealth Advisors LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 311 shares of the information technology services provider’s stock, valued at approximately $322,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Global X Japan Co. Ltd. purchased a new stake in ServiceNow in the second quarter valued at about $30,000. LGT Financial Advisors LLC acquired a new position in shares of ServiceNow during the second quarter valued at about $32,000. Bogart Wealth LLC raised its position in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in ServiceNow in the 1st quarter worth approximately $26,000. Finally, Richardson Financial Services Inc. grew its position in ServiceNow by 50.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock worth $33,000 after purchasing an additional 11 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at $10,594,950.60. The trade was a 12.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider owned 3,000 shares of the company’s stock, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,737 shares of company stock valued at $16,798,825. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on NOW shares. Oppenheimer reaffirmed an “outperform” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. DA Davidson upped their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Citigroup lifted their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Finally, Zacks Research raised ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,124.17.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $939.60 on Friday. The company has a market capitalization of $195.44 billion, a PE ratio of 118.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company’s fifty day moving average price is $916.59 and its 200 day moving average price is $939.53. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the firm posted $3.13 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current 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.