Stratos Wealth Advisors LLC Boosts Stock Position in ServiceNow, Inc. $NOW

Stratos Wealth Advisors LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 961 shares of the information technology services provider’s stock after buying an additional 48 shares during the period. Stratos Wealth Advisors LLC’s holdings in ServiceNow were worth $988,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after purchasing an additional 297,734 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in ServiceNow by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after buying an additional 188,292 shares in the last quarter. Nuveen LLC acquired a new stake in ServiceNow in the 1st quarter worth about $1,817,535,000. Alliancebernstein L.P. increased its stake in ServiceNow by 16.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock worth $1,379,461,000 after buying an additional 242,132 shares in the last quarter. Finally, Amundi raised its holdings in shares of ServiceNow by 61.9% during the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after acquiring an additional 626,623 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 1,762 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the sale, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock valued at $16,798,825 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Guggenheim reaffirmed a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a research note on Thursday, July 17th. Citigroup increased their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Piper Sandler lifted their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. DA Davidson increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,121.37.

ServiceNow Trading Up 1.1%

Shares of NOW stock opened at $904.57 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company’s 50-day moving average price is $910.30 and its 200-day moving average price is $935.59. The stock has a market cap of $188.15 billion, a price-to-earnings ratio of 113.93, a PEG ratio of 4.07 and a beta of 0.92.

ServiceNow (NYSE:NOW) last issued its earnings results 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. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the firm earned $3.13 earnings per share. ServiceNow’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.