Ullmann Wealth Partners Group LLC Makes New $206,000 Investment in ServiceNow, Inc. $NOW

Ullmann Wealth Partners Group LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 200 shares of the information technology services provider’s stock, valued at approximately $206,000.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. Nuveen LLC bought a new stake in shares of ServiceNow during the first quarter valued at approximately $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of ServiceNow by 1,586.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock valued at $742,965,000 after purchasing an additional 877,875 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of ServiceNow by 131.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after purchasing an additional 840,731 shares during the last quarter. Finally, Parnassus Investments LLC bought a new stake in shares of ServiceNow during the first quarter valued at approximately $519,806,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 1.6%

ServiceNow stock opened at $963.21 on Friday. The company has a market cap of $200.35 billion, a P/E ratio of 121.31, a price-to-earnings-growth ratio of 4.33 and a beta of 0.91. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a fifty day simple moving average of $922.60 and a 200 day simple moving average of $923.43. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last released its earnings results 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. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.13 earnings per share. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Guggenheim reissued a “sell” rating and set a $724.00 price target on shares of ServiceNow in a research note on Thursday, July 17th. Citigroup increased their price objective on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. Finally, FBN Securities upgraded shares of ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and one has issued 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 $1,115.20.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,976 shares of company stock worth $17,049,775. Corporate insiders own 0.38% of the company’s stock.

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.