Masso Torrence Wealth Management Inc. Invests $211,000 in ServiceNow, Inc. (NYSE:NOW)

Masso Torrence Wealth Management Inc. purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 199 shares of the information technology services provider’s stock, valued at approximately $211,000.

A number of other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in ServiceNow by 9.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,561 shares of the information technology services provider’s stock valued at $13,027,000 after purchasing an additional 1,484 shares during the period. Invst LLC acquired a new position in shares of ServiceNow during the second quarter worth about $282,000. Regal Investment Advisors LLC raised its stake in shares of ServiceNow by 8.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 865 shares of the information technology services provider’s stock worth $681,000 after buying an additional 66 shares in the last quarter. EP Wealth Advisors LLC boosted its position in shares of ServiceNow by 9.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 2,206 shares of the information technology services provider’s stock worth $1,736,000 after purchasing an additional 186 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in shares of ServiceNow by 6.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 639 shares of the information technology services provider’s stock valued at $499,000 after purchasing an additional 41 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,731 shares of company stock valued at $21,016,751. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NOW. JPMorgan Chase & Co. boosted their price target on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Guggenheim reaffirmed a “sell” rating and set a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, BMO Capital Markets upped their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $1,116.14.

ServiceNow Stock Performance

NOW opened at $1,158.77 on Wednesday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $238.71 billion, a P/E ratio of 182.43, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. The firm’s 50-day moving average price is $1,082.77 and its 200-day moving average price is $950.94.

ServiceNow Company 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.