ServiceNow, Inc. (NYSE:NOW) is CMH Wealth Management LLC’s 8th Largest Position

CMH Wealth Management LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,173 shares of the information technology services provider’s stock after selling 237 shares during the quarter. ServiceNow accounts for approximately 3.0% of CMH Wealth Management LLC’s holdings, making the stock its 8th biggest holding. CMH Wealth Management LLC’s holdings in ServiceNow were worth $12,905,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NOW. Profund Advisors LLC boosted its holdings in ServiceNow by 6.5% during the 2nd quarter. Profund Advisors LLC now owns 4,349 shares of the information technology services provider’s stock valued at $3,421,000 after acquiring an additional 267 shares during the period. ProShare Advisors LLC boosted its stake in shares of ServiceNow by 6.9% during the second quarter. ProShare Advisors LLC now owns 39,115 shares of the information technology services provider’s stock valued at $30,771,000 after purchasing an additional 2,517 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of ServiceNow by 5.8% in the second quarter. EverSource Wealth Advisors LLC now owns 815 shares of the information technology services provider’s stock worth $664,000 after purchasing an additional 45 shares during the last quarter. Harmony Asset Management LLC purchased a new position in shares of ServiceNow in the second quarter worth $393,000. Finally, Nippon Life Global Investors Americas Inc. raised its holdings in ServiceNow by 8.5% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 72,480 shares of the information technology services provider’s stock valued at $57,018,000 after buying an additional 5,690 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 1.4 %

NOW stock opened at $1,072.02 on Tuesday. The stock has a market capitalization of $220.84 billion, a P/E ratio of 166.72, a P/E/G ratio of 4.85 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, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The business has a fifty day moving average price of $1,069.67 and a 200-day moving average price of $933.26.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 EPS. Equities analysts forecast that ServiceNow, Inc. will post 7.06 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 over the last quarter. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOW. Raymond James began coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target on the stock. BMO Capital Markets boosted their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Canaccord Genuity Group boosted their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Cantor Fitzgerald started coverage on ServiceNow in a report on Friday. They set an “overweight” rating and a $1,332.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently 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.