Total Clarity Wealth Management Inc. Buys 16 Shares of ServiceNow, Inc. $NOW

Total Clarity Wealth Management Inc. grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 507 shares of the information technology services provider’s stock after purchasing an additional 16 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in ServiceNow were worth $521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at about $382,000. Corient IA LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at about $796,000. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at about $1,820,000. ASR Vermogensbeheer N.V. acquired a new position in shares of ServiceNow in the 1st quarter valued at about $19,278,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of ServiceNow by 131.4% in the 1st 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 period. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NOW shares. Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Raymond James Financial upped their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. UBS Group dropped their price target on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. DA Davidson upped their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Guggenheim reaffirmed a “sell” rating and set a $724.00 price target on shares of ServiceNow in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

ServiceNow Stock Performance

Shares of NOW opened at $923.44 on Tuesday. 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 stock has a 50 day moving average price of $909.24 and a two-hundred day moving average price of $933.88. The firm has a market capitalization of $192.07 billion, a P/E ratio of 116.30, a P/E/G ratio of 4.00 and a beta of 0.92. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

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

Insider Activity

In other news, insider Paul Fipps sold 1,452 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the transaction, the insider directly owned 457 shares of the company’s stock, valued at $409,037.85. This represents a 76.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,737 shares of company stock worth $16,798,825. Company 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.