Austin Private Wealth LLC Buys 23 Shares of ServiceNow, Inc. $NOW

Austin Private Wealth LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 625 shares of the information technology services provider’s stock after purchasing an additional 23 shares during the quarter. Austin Private Wealth LLC’s holdings in ServiceNow were worth $643,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock worth $15,522,335,000 after acquiring an additional 297,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in ServiceNow by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock worth $2,263,519,000 after acquiring an additional 188,292 shares during the period. Nuveen LLC bought a new position in ServiceNow during the first quarter worth about $1,817,535,000. Alliancebernstein L.P. increased its position in ServiceNow by 16.2% during the first quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock worth $1,379,461,000 after acquiring an additional 242,132 shares during the period. Finally, Amundi increased its position in ServiceNow by 61.9% during the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock worth $1,269,777,000 after acquiring an additional 626,623 shares during the period. 87.18% of the stock is owned by institutional investors.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 17,980 shares of company stock valued at $16,049,017. Company insiders own 0.38% of the company’s stock.

ServiceNow Trading Down 0.7%

Shares of ServiceNow stock opened at $939.50 on Wednesday. The company has a market capitalization of $195.42 billion, a price-to-earnings ratio of 118.33, a PEG ratio of 4.27 and a beta of 0.92. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The firm’s 50-day moving average price is $920.02 and its two-hundred day moving average price is $945.20.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOW. DA Davidson raised their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Oppenheimer reaffirmed an “outperform” rating and set a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Zacks Research raised shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Bank of America raised their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Citigroup raised their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,124.17.

About ServiceNow

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.