Visionary Wealth Advisors Takes Position in ServiceNow, Inc. $NOW

Visionary Wealth Advisors purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,347 shares of the information technology services provider’s stock, valued at approximately $829,000.

Other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC boosted its stake in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Blueline Advisors LLC bought a new position in ServiceNow in the fourth quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC increased its stake in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Finally, Wealth Watch Advisors INC grew its position in ServiceNow by 432.3% in the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NOW shares. UBS Group set a $248.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. Cantor Fitzgerald boosted their price objective on ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Robert W. Baird increased their target price on shares of ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

ServiceNow Stock Performance

Shares of NOW opened at $128.09 on Tuesday. The stock has a 50 day moving average of $109.36 and a 200 day moving average of $105.79. The company has a market capitalization of $132.45 billion, a price-to-earnings ratio of 80.06, a PEG ratio of 2.26 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the transaction, the director directly owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. The trade was a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by insiders.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.