B. Riley Wealth Advisors Inc. Sells 1,077 Shares of ServiceNow, Inc. (NYSE:NOW)

B. Riley Wealth Advisors Inc. cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 21.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,887 shares of the information technology services provider’s stock after selling 1,077 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in ServiceNow were worth $3,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. World Investment Advisors LLC raised its holdings in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares during the period. Bank of Montreal Can lifted its holdings in ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after buying an additional 935,848 shares during the period. Wellington Management Group LLP boosted its position in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after acquiring an additional 615,797 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after acquiring an additional 502,845 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now directly owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This trade represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,629 shares of company stock worth $20,861,626. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NOW. Oppenheimer raised their target price on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Evercore ISI raised their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. UBS Group lifted their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,034.96.

ServiceNow Price Performance

NYSE NOW opened at $1,121.10 on Friday. The business’s fifty day moving average price is $1,006.82 and its 200-day moving average price is $871.88. The stock has a market capitalization of $230.95 billion, a price-to-earnings ratio of 174.35, a PEG ratio of 6.58 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS. On average, equities analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.