Wealth Advisors of Tampa Bay LLC Acquires 12,811 Shares of ServiceNow, Inc. $NOW

Wealth Advisors of Tampa Bay LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 370.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,270 shares of the information technology services provider’s stock after buying an additional 12,811 shares during the period. Wealth Advisors of Tampa Bay LLC’s holdings in ServiceNow were worth $2,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC boosted its position in ServiceNow by 437.8% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,092 shares of the information technology services provider’s stock worth $320,000 after purchasing an additional 1,703 shares during the period. Smithfield Trust Co boosted its position in ServiceNow by 400.3% during the fourth quarter. Smithfield Trust Co now owns 4,393 shares of the information technology services provider’s stock worth $669,000 after purchasing an additional 3,515 shares during the period. Bleakley Financial Group LLC bought a new position in ServiceNow during the fourth quarter worth about $3,624,000. Kestra Investment Management LLC boosted its position in ServiceNow by 334.6% during the fourth quarter. Kestra Investment Management LLC now owns 2,325 shares of the information technology services provider’s stock worth $356,000 after purchasing an additional 1,790 shares during the period. Finally, Box Hill Private Wealth LLC bought a new position in ServiceNow during the fourth quarter worth about $290,000. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on NOW shares. Benchmark started coverage on shares of ServiceNow in a research report on Wednesday, April 1st. They set a “buy” rating and a $125.00 target price for the company. Cantor Fitzgerald cut their target price on shares of ServiceNow to $122.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. JPMorgan Chase & Co. cut their target price on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Wolfe Research set a $125.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $121.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.85.

ServiceNow Trading Down 2.1%

Shares of ServiceNow stock opened at $99.99 on Wednesday. The company’s 50-day moving average price is $98.26 and its 200-day moving average price is $124.67. The company has a market cap of $103.09 billion, a price-to-earnings ratio of 59.59, a PEG ratio of 1.85 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.