Wolff Wiese Magana LLC Has $700,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

Wolff Wiese Magana LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 33.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 879 shares of the information technology services provider’s stock after buying an additional 221 shares during the quarter. Wolff Wiese Magana LLC’s holdings in ServiceNow were worth $700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in ServiceNow in the 4th quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the 4th quarter valued at approximately $32,000. Noble Wealth Management PBC acquired a new stake in ServiceNow in the 4th quarter valued at approximately $34,000. Finally, FPC Investment Advisory Inc. grew its holdings in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 1.3%

Shares of NOW opened at $969.78 on Friday. The stock has a fifty day moving average price of $964.42 and a two-hundred day moving average price of $970.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a market cap of $200.72 billion, a price-to-earnings ratio of 131.76, a PEG ratio of 4.48 and a beta of 0.95.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company posted $3.41 EPS. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 354 shares of the business’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer now directly owns 6,614 shares of the company’s stock, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on NOW. Jefferies Financial Group lowered their target price on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Scotiabank set a $1,100.00 price objective on ServiceNow and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Barclays set a $1,085.00 price objective on ServiceNow in a report on Wednesday, May 7th. Truist Financial raised ServiceNow from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. Finally, Citigroup lifted their price objective on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

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.