Wealthcare Advisory Partners LLC Increases Holdings in ServiceNow, Inc. $NOW

Wealthcare Advisory Partners LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 24.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,198 shares of the information technology services provider’s stock after buying an additional 7,616 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in ServiceNow were worth $3,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow during the third quarter worth approximately $29,000. Kelleher Financial Advisors purchased a new stake in shares of ServiceNow in the 3rd quarter valued at $50,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares during the last quarter. Jupiter Wealth Management LLC bought a new position in shares of ServiceNow during the 2nd quarter valued at $154,000. Finally, CBIZ Investment Advisory Services LLC raised its position in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on NOW shares. HSBC lowered their price target on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Stifel Nicolaus reduced their price objective on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $248.00 price objective (up from $236.00) on shares of ServiceNow in a report on Thursday, July 23rd. Citic Securities lowered their target price on ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $130.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $143.39.

ServiceNow Stock Up 0.1%

Shares of NYSE:NOW opened at $127.51 on Wednesday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The firm has a market capitalization of $131.85 billion, a P/E ratio of 79.69, a P/E/G ratio of 2.24 and a beta of 0.94. The stock has a 50 day moving average price of $106.56 and a 200-day moving average price of $105.74. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the business posted $0.81 EPS. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 18,993 shares of company stock worth $1,716,436. 0.34% of the stock is owned by corporate insiders.

ServiceNow 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.