Aletheian Wealth Advisors LLC Makes New Investment in ServiceNow, Inc. $NOW

Aletheian Wealth Advisors LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 203 shares of the information technology services provider’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC boosted its stake in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow in the 1st quarter valued at $26,000. WASHINGTON TRUST Co boosted its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 31 shares in the last quarter. Dagco Inc. acquired a new stake in shares of ServiceNow in the 1st quarter valued at $33,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $930.04 on Friday. The stock has a market capitalization of $193.45 billion, a P/E ratio of 117.13, a P/E/G ratio of 4.23 and a beta of 0.91. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $927.34 and a two-hundred day moving average price of $922.33.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.13 EPS. Equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

NOW has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. FBN Securities upgraded shares of ServiceNow to a “strong-buy” rating in a research report on Wednesday, June 11th. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of ServiceNow in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,115.20.

Insider Activity

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares of the company’s stock, valued at $2,599,350. This represents a 36.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director directly owned 9,307 shares of the company’s stock, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,976 shares of company stock worth $17,049,775. Corporate insiders own 0.38% of the company’s stock.

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.