Aprio Wealth Management LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Aprio Wealth Management LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 340 shares of the information technology services provider’s stock, valued at approximately $259,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Pathway Financial Advisors LLC acquired a new position in shares of ServiceNow during the first quarter valued at $205,000. Park Avenue Securities LLC raised its position in ServiceNow by 0.4% in the first quarter. Park Avenue Securities LLC now owns 9,720 shares of the information technology services provider’s stock worth $7,410,000 after acquiring an additional 42 shares in the last quarter. Wedmont Private Capital raised its position in ServiceNow by 7.4% in the first quarter. Wedmont Private Capital now owns 1,953 shares of the information technology services provider’s stock worth $1,528,000 after acquiring an additional 135 shares in the last quarter. Czech National Bank raised its position in ServiceNow by 0.4% in the first quarter. Czech National Bank now owns 36,070 shares of the information technology services provider’s stock worth $27,500,000 after acquiring an additional 160 shares in the last quarter. Finally, Destiny Wealth Partners LLC bought a new stake in ServiceNow in the first quarter worth about $274,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In other news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $2,521,422.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul John Smith sold 190 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

ServiceNow stock opened at $749.98 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a fifty day moving average price of $723.59 and a two-hundred day moving average price of $738.50. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32. The firm has a market capitalization of $153.75 billion, a P/E ratio of 80.21, a P/E/G ratio of 4.60 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. As a group, analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NOW shares. Citigroup boosted their price objective on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley boosted their price objective on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research note on Tuesday. Finally, Jefferies Financial Group lifted their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $814.48.

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.