Pines Wealth Management LLC Invests $497,000 in ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

Pines Wealth Management LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 485 shares of the information technology services provider’s stock, valued at approximately $497,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Dimensional Fund Advisors LP boosted its stake in shares of ServiceNow by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 274,844 shares of the information technology services provider’s stock worth $216,207,000 after buying an additional 39,984 shares during the last quarter. Total Clarity Wealth Management Inc. lifted its holdings in ServiceNow by 33.1% in the second quarter. Total Clarity Wealth Management Inc. now owns 438 shares of the information technology services provider’s stock valued at $345,000 after acquiring an additional 109 shares during the period. Citizens Financial Group Inc. RI boosted its position in ServiceNow by 209.8% in the second quarter. Citizens Financial Group Inc. RI now owns 3,021 shares of the information technology services provider’s stock worth $2,377,000 after purchasing an additional 2,046 shares during the last quarter. WealthPLAN Partners LLC grew its stake in shares of ServiceNow by 3.8% during the 2nd quarter. WealthPLAN Partners LLC now owns 3,258 shares of the information technology services provider’s stock valued at $2,563,000 after purchasing an additional 118 shares during the period. Finally, Lmcg Investments LLC increased its position in shares of ServiceNow by 2.6% during the 2nd quarter. Lmcg Investments LLC now owns 16,557 shares of the information technology services provider’s stock valued at $13,025,000 after purchasing an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was 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 directly owns 10,467 shares in the company, valued at $10,968,892.65. This trade represents a 2.79 % 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, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were 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 in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,276 shares of company stock valued at $20,535,115 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $1,029.85 on Wednesday. The company has a market capitalization of $212.15 billion, a P/E ratio of 160.16, a P/E/G ratio of 6.43 and a beta of 0.99. The business’s 50-day moving average is $1,066.34 and its 200 day moving average is $927.52. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90.

ServiceNow (NYSE:NOW – Get Free Report) last posted its 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 return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the company earned $1.21 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on NOW. Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Citigroup lifted their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. The Goldman Sachs Group boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Jefferies Financial Group raised their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Truist Financial boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,071.39.

View Our Latest Stock Analysis on NOW

ServiceNow Company Profile

(Free Report)

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.

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