Stratos Wealth Advisors LLC Sells 15 Shares of ServiceNow, Inc. (NYSE:NOW)

Stratos Wealth Advisors LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.5% during the third quarter, Holdings Channel.com reports. The firm owned 577 shares of the information technology services provider’s stock after selling 15 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in ServiceNow were worth $516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $25,000. Versant Capital Management Inc raised its stake in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its stake in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of ServiceNow in the 2nd quarter valued at $32,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in shares of ServiceNow during the second quarter valued at about $39,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOW. TD Cowen raised their target price on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday. Robert W. Baird boosted their price objective on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. KeyCorp lowered their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Truist Financial raised their price objective on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Citigroup raised their price target on shares of ServiceNow from $915.00 to $1,068.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $923.00.

ServiceNow Trading Down 0.4 %

Shares of ServiceNow stock opened at $918.34 on Tuesday. The company has a market cap of $188.26 billion, a P/E ratio of 98.22, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59. The firm has a 50-day simple moving average of $876.85 and a two-hundred day simple moving average of $793.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,267 shares of company stock valued at $5,935,447 in the last quarter. Insiders own 0.25% of the company’s stock.

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.