Signal Advisors Wealth LLC Boosts Stock Holdings in ServiceNow, Inc. $NOW

Signal Advisors Wealth LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 48.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,985 shares of the information technology services provider’s stock after acquiring an additional 27,399 shares during the quarter. Signal Advisors Wealth LLC’s holdings in ServiceNow were worth $8,781,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $2,020,992,000. World Investment Advisors grew its holdings in ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after purchasing an additional 38,583 shares during the period. Cohen Klingenstein LLC increased its position in ServiceNow by 400.0% in the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after buying an additional 8,000 shares during the last quarter. Moors & Cabot Inc. increased its position in ServiceNow by 387.7% in the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after buying an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of ServiceNow by 385.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock valued at $398,202,000 after buying an additional 2,064,440 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction 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 transaction, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,071 shares of company stock worth $2,529,956 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

NYSE:NOW opened at $92.96 on Tuesday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The stock has a fifty day moving average of $99.62 and a 200 day moving average of $116.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $95.84 billion, a price-to-earnings ratio of 55.40, a P/E/G ratio of 1.58 and a beta of 0.94.

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, hitting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the company earned $0.81 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. Argus dropped their price target on ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. BNP Paribas Exane upgraded ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Monday, March 16th. DA Davidson reaffirmed a “buy” rating and set a $190.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. 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. Finally, KeyCorp set a $85.00 target price on shares of ServiceNow and gave the stock an “underweight” rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $142.17.

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.