ServiceNow, Inc. (NYSE:NOW) Stock Holdings Lifted by Stratos Wealth Partners LTD.

by · The Markets Daily

Stratos Wealth Partners LTD. increased its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 12.2% during the third quarter, Holdings Channel reports. The fund owned 8,646 shares of the information technology services provider’s stock after acquiring an additional 938 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in ServiceNow were worth $7,733,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Swedbank AB acquired a new stake in ServiceNow during the 1st quarter valued at $897,908,000. Global Assets Advisory LLC acquired a new position in ServiceNow during the first quarter valued at $403,034,000. Vanguard Group Inc. lifted its stake in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in ServiceNow during the 2nd quarter worth about $218,786,000. Finally, Acadian Asset Management LLC grew its stake in ServiceNow by 233.4% during the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after acquiring an additional 271,073 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock valued at $5,935,447 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $921.75 on Friday. The firm has a market capitalization of $188.96 billion, a PE ratio of 98.58, a PEG ratio of 5.63 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $949.59. The business’s 50 day moving average is $874.61 and its 200-day moving average is $791.98.

ServiceNow (NYSE:NOW – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. Evercore ISI increased their price target on shares of ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. JMP Securities lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday. Citigroup upped their price target on shares of ServiceNow from $915.00 to $1,068.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $914.15.

Read Our Latest Stock Report on NOW

ServiceNow Profile

(Free Report)

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.

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