Sheaff Brock Investment Advisors LLC Acquires 52 Shares of ServiceNow, Inc. (NYSE:NOW)

Sheaff Brock Investment Advisors LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.8% in the first quarter, Holdings Channel reports. The firm owned 942 shares of the information technology services provider’s stock after purchasing an additional 52 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in ServiceNow were worth $718,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Argonautica Private Wealth Management Inc. increased its position in shares of ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after purchasing an additional 13 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 14 shares during the last quarter. Optas LLC boosted its holdings in shares of ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares in the last quarter. Cedar Wealth Management LLC grew its position in ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after acquiring an additional 14 shares during the last quarter. Finally, Claro Advisors LLC increased its holdings in ServiceNow by 3.6% during the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after purchasing an additional 15 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Down 0.1 %

Shares of NOW stock traded down $0.94 on Friday, hitting $827.85. The stock had a trading volume of 2,409,663 shares, compared to its average volume of 1,332,475. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $850.33. The company has a fifty day moving average price of $742.77 and a two-hundred day moving average price of $750.01. The firm has a market cap of $169.71 billion, a P/E ratio of 89.01, a PEG ratio of 4.58 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 15.01% and a net margin of 11.51%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share. As a group, analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The disclosure for this sale can be found here. In the last three months, insiders sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Thursday. Wolfe Research restated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a research report on Friday, May 10th. Guggenheim reiterated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. Finally, Piper Sandler raised their price target on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $833.57.

ServiceNow Company 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.