Naviter Wealth LLC Has $2.30 Million Holdings in ServiceNow, Inc. $NOW

Naviter Wealth LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,234 shares of the information technology services provider’s stock after buying an additional 88 shares during the period. Naviter Wealth LLC’s holdings in ServiceNow were worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NOW. Bogart Wealth LLC lifted its position in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow in the first quarter worth $26,000. WASHINGTON TRUST Co raised its stake in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 31 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in ServiceNow during the second quarter worth about $30,000. Finally, Dagco Inc. acquired a new stake in ServiceNow during the first quarter worth about $33,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 3.9%

Shares of NYSE:NOW opened at $923.44 on Tuesday. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a market capitalization of $192.07 billion, a PE ratio of 116.30, a price-to-earnings-growth ratio of 4.00 and a beta of 0.92. 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 company has a fifty day moving average of $909.24 and a 200-day moving average of $933.88.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the business posted $3.13 EPS. ServiceNow’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on NOW. BMO Capital Markets boosted their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Weiss Ratings restated a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, JMP Securities reissued a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,122.20.

About ServiceNow

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.