Avidian Wealth Enterprises LLC Has $454,000 Stock Holdings in ServiceNow, Inc. $NOW

Avidian Wealth Enterprises LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 15.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 442 shares of the information technology services provider’s stock after selling 81 shares during the period. Avidian Wealth Enterprises LLC’s holdings in ServiceNow were worth $454,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bogart Wealth LLC boosted its stake in ServiceNow by 113.3% during 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 during the last quarter. Graybill Wealth Management LTD. acquired a new position in ServiceNow during the 1st quarter valued at about $26,000. WASHINGTON TRUST Co boosted its stake in ServiceNow by 620.0% during 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 during the last quarter. Global X Japan Co. Ltd. acquired a new position in ServiceNow during the 2nd quarter valued at about $30,000. Finally, Dagco Inc. acquired a new position in ServiceNow during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 0.6%

NYSE:NOW opened at $936.25 on Thursday. 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 stock has a market capitalization of $194.74 billion, a PE ratio of 117.92, a price-to-earnings-growth ratio of 4.24 and a beta of 0.92. The firm’s 50 day moving average is $914.81 and its 200 day moving average is $938.12. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

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

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the sale, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This trade represents a 46.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock worth $16,798,825 in the last three months. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Raymond James Financial lifted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research note 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 lifted their target price 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. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,121.37.

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.