Cetera Investment Advisers Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Cetera Investment Advisers boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,934 shares of the information technology services provider’s stock after buying an additional 1,720 shares during the quarter. Cetera Investment Advisers’ holdings in ServiceNow were worth $42,143,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NOW. Edgemoor Investment Advisors Inc. increased its position in shares of ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after purchasing an additional 11 shares during the last quarter. Capital Investment Advisory Services LLC increased its position in shares of ServiceNow by 2.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider’s stock valued at $459,000 after purchasing an additional 12 shares during the last quarter. Kesler Norman & Wride LLC increased its position in shares of ServiceNow by 1.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider’s stock valued at $1,157,000 after purchasing an additional 13 shares during the last quarter. Sepio Capital LP increased its position in shares of ServiceNow by 3.8% during the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider’s stock valued at $381,000 after purchasing an additional 13 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. increased its position in shares of ServiceNow by 0.5% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 2,392 shares of the information technology services provider’s stock valued at $2,536,000 after purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares in the company, valued at approximately $3,060,000. This represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 292 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $287,620.00. Following the transaction, the chief financial officer owned 11,198 shares of the company’s stock, valued at $11,030,030. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,003 shares of company stock worth $6,015,106. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup upped their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus upped their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Guggenheim reaffirmed a “sell” rating and set a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, Truist Financial raised shares of ServiceNow from a “hold” rating to a “buy” rating and increased their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,114.87.

ServiceNow Stock Down 2.8%

NYSE NOW opened at $968.05 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.09. The company has a market capitalization of $200.37 billion, a P/E ratio of 121.92, a P/E/G ratio of 4.43 and a beta of 0.94. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The stock has a 50 day moving average price of $1,000.33 and a 200-day moving average price of $952.52.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.13 EPS. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.