Net Worth Advisory Group Invests $963,000 in ServiceNow, Inc. (NYSE:NOW)

Net Worth Advisory Group bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,077 shares of the information technology services provider’s stock, valued at approximately $963,000.

Other large investors have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. lifted its position in shares of ServiceNow by 12.2% in the third quarter. Stratos Wealth Partners LTD. now owns 8,646 shares of the information technology services provider’s stock worth $7,733,000 after purchasing an additional 938 shares in the last quarter. Strategic Advocates LLC lifted its position in ServiceNow by 216.8% during the 3rd quarter. Strategic Advocates LLC now owns 3,393 shares of the information technology services provider’s stock worth $3,035,000 after buying an additional 2,322 shares in the last quarter. Aspiriant LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth about $309,000. Trust Point Inc. grew its holdings in shares of ServiceNow by 3.7% in the 3rd quarter. Trust Point Inc. now owns 1,399 shares of the information technology services provider’s stock valued at $1,251,000 after acquiring an additional 50 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in shares of ServiceNow by 22.7% in the third quarter. Aaron Wealth Advisors LLC now owns 654 shares of the information technology services provider’s stock valued at $585,000 after acquiring an additional 121 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $921.80 on Friday. The business has a 50-day simple moving average of $874.61 and a 200 day simple moving average of $791.74. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $949.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $188.97 billion, a price-to-earnings ratio of 98.59, a PEG ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, research analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul John Smith sold 187 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,267 shares of company stock worth $5,935,447. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. UBS Group raised their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Oppenheimer boosted their price target on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $914.15.

ServiceNow 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.