Austin Private Wealth LLC Has $464,000 Stake in ServiceNow, Inc. (NYSE:NOW)

Austin Private Wealth LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 14.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 611 shares of the information technology services provider’s stock after purchasing an additional 75 shares during the period. Austin Private Wealth LLC’s holdings in ServiceNow were worth $464,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Algert Global LLC bought a new position in shares of ServiceNow during the 3rd quarter worth about $310,000. Cary Street Partners Investment Advisory LLC increased its position in shares of ServiceNow by 19.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 370 shares of the information technology services provider’s stock worth $207,000 after acquiring an additional 59 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of ServiceNow in the 3rd quarter worth about $227,000. Parkside Financial Bank & Trust lifted its position in ServiceNow by 23.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 610 shares of the information technology services provider’s stock valued at $341,000 after acquiring an additional 114 shares in the last quarter. Finally, Operose Advisors LLC acquired a new position in ServiceNow during the 3rd quarter valued at about $62,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $5.64 during trading hours on Tuesday, reaching $745.23. The company had a trading volume of 69,914 shares, compared to its average volume of 1,276,823. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32. The firm has a market cap of $152.77 billion, a PE ratio of 79.10, a price-to-earnings-growth ratio of 4.70 and a beta of 0.96. The business has a fifty day simple moving average of $723.67 and a 200 day simple moving average of $739.59.

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

Insider Activity

In related news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wolfe Research restated an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a report on Friday, May 10th. Needham & Company LLC reissued a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Tuesday, June 18th. Citigroup upped their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Finally, Robert W. Baird upped their target price on ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $814.48.

ServiceNow 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.