Avidian Wealth Enterprises LLC Sells 81 Shares of ServiceNow, Inc. $NOW

Avidian Wealth Enterprises LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 15.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 442 shares of the information technology services provider’s stock after selling 81 shares during the period. Avidian Wealth Enterprises LLC’s holdings in ServiceNow were worth $454,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Global X Japan Co. Ltd. bought a new position in shares of ServiceNow in the 2nd quarter valued at $30,000. Bogart Wealth LLC raised its position in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new position in ServiceNow during the 1st quarter worth $26,000. Richardson Financial Services Inc. raised its position in ServiceNow by 50.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock worth $33,000 after purchasing an additional 11 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its position in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

NOW stock opened at $936.25 on Thursday. The stock has a 50-day moving average price of $914.81 and a 200-day moving average price of $938.12. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $194.74 billion, a PE ratio of 117.92, a price-to-earnings-growth ratio of 4.24 and a beta of 0.92.

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

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. Barclays set a $1,210.00 target price on ServiceNow in a research report on Thursday, July 24th. Zacks Research raised ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Bank of America raised their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Jefferies Financial Group raised their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,121.37.

Insider Buying and Selling

In other news, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares in the company, valued at $409,037.85. This trade represents a 76.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock worth $16,798,825 over the last 90 days. 0.38% of the stock is owned by company insiders.

About ServiceNow

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.