Naviter Wealth LLC Acquires 298 Shares of ServiceNow, Inc. (NYSE:NOW)

Naviter Wealth LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 20.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,761 shares of the information technology services provider’s stock after acquiring an additional 298 shares during the quarter. Naviter Wealth LLC’s holdings in ServiceNow were worth $1,343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow in the fourth quarter valued at about $29,000. AdvisorNet Financial Inc raised its holdings in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the period. Disciplined Equity Management Inc. bought a new position in shares of ServiceNow during the fourth quarter worth $35,000. Sachetta LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at $35,000. Finally, Fortitude Family Office LLC acquired a new stake in ServiceNow during the 4th quarter worth $41,000. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research reports. Citigroup increased their target price on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Wolfe Research reissued an “outperform” rating and set a $830.00 price target on shares of ServiceNow in a research report on Friday, May 10th. Morgan Stanley increased their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Stifel Nicolaus restated a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a research note on Tuesday. Finally, Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $813.28.

ServiceNow Price Performance

NOW stock opened at $794.11 on Wednesday. The stock has a market cap of $162.79 billion, a price-to-earnings ratio of 84.93, a P/E/G ratio of 4.93 and a beta of 0.99. 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 company has a 50 day simple moving average of $727.88 and a 200 day simple moving average of $742.00. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32.

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

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the completion of the transaction, the chief financial officer now owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the sale, the chief financial officer now directly owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock worth $3,997,012 in the last quarter. 0.25% of the stock is owned by insiders.

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.