Signal Advisors Wealth LLC Invests $751,000 in ServiceNow, Inc. (NYSE:NOW)

Signal Advisors Wealth LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 943 shares of the information technology services provider’s stock, valued at approximately $751,000.

Several other institutional investors and hedge funds also recently modified their holdings of NOW. Janus Henderson Group PLC boosted its holdings in ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock valued at $874,258,000 after purchasing an additional 12,533 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in ServiceNow in the fourth quarter valued at about $48,802,000. Dock Street Asset Management Inc. boosted its holdings in ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after purchasing an additional 1,105 shares during the last quarter. FMR LLC boosted its holdings in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Finally, Duncker Streett & Co. Inc. boosted its holdings in ServiceNow by 4.8% in the fourth quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider’s stock valued at $6,759,000 after purchasing an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 1.3%

Shares of ServiceNow stock opened at $1,030.70 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $919.44 and its 200-day simple moving average is $974.97. The stock has a market capitalization of $213.34 billion, a price-to-earnings ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

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, topping analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior 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. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on NOW. Raymond James reduced their price target on ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price target on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC reissued a “buy” rating and issued a $1,050.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Guggenheim upped their price objective on ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,062.50.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 248 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the transaction, the director now directly owns 10,643 shares of the company’s stock, valued at $10,740,277.02. This represents a 2.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 6,614 shares of the company’s stock, valued at $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. Insiders sold 6,716 shares of company stock valued at $6,611,245 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

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.