Private Advisor Group LLC Has $10.90 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Private Advisor Group LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 9.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,190 shares of the information technology services provider’s stock after selling 1,281 shares during the period. Private Advisor Group LLC’s holdings in ServiceNow were worth $10,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Thrive Wealth Management LLC lifted its stake in ServiceNow by 7.7% in the 1st quarter. Thrive Wealth Management LLC now owns 390 shares of the information technology services provider’s stock valued at $297,000 after acquiring an additional 28 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in shares of ServiceNow by 15.4% in the first quarter. 180 Wealth Advisors LLC now owns 1,226 shares of the information technology services provider’s stock worth $935,000 after purchasing an additional 164 shares in the last quarter. Register Financial Advisors LLC acquired a new position in ServiceNow during the first quarter worth $138,000. Webster Bank N. A. grew its position in ServiceNow by 16.8% in the first quarter. Webster Bank N. A. now owns 4,025 shares of the information technology services provider’s stock valued at $3,069,000 after purchasing an additional 580 shares in the last quarter. Finally, Independence Bank of Kentucky increased its stake in ServiceNow by 27.2% in the 1st quarter. Independence Bank of Kentucky now owns 117 shares of the information technology services provider’s stock valued at $89,000 after buying an additional 25 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 5.4 %

Shares of NOW stock opened at $956.40 on Friday. The stock has a market cap of $197.02 billion, a P/E ratio of 172.95, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $979.78. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $880.60 and a 200 day simple moving average of $795.09.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. On average, research analysts predict that ServiceNow, Inc. will post 7.41 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, 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 have sold a total of 5,467 shares of company stock worth $4,450,447 over the last 90 days. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NOW. Canaccord Genuity Group raised their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets boosted their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein increased their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $970.22.

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.