Moss Adams Wealth Advisors LLC Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Moss Adams Wealth Advisors LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 474 shares of the information technology services provider’s stock after buying an additional 32 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in ServiceNow were worth $502,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NOW. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the third quarter valued at approximately $30,000. DT Investment Partners LLC grew its holdings in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new position in ServiceNow during the second quarter worth $39,000. Oakworth Capital Inc. raised its holdings in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC lifted its position in shares of ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOW. Needham & Company LLC lifted their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Sanford C. Bernstein lifted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research note on Friday. They set an “overweight” rating and a $1,332.00 price objective on the stock. Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. Finally, Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,080.38.

ServiceNow Price Performance

NOW stock opened at $1,072.02 on Friday. The firm has a market cap of $220.84 billion, a P/E ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The stock has a 50-day simple moving average of $1,069.67 and a 200-day simple moving average of $931.27.

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 the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the company earned $1.21 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, equities analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This represents a 2.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company’s stock.

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.