B. Riley Wealth Advisors Inc. Sells 1,077 Shares of ServiceNow, Inc. (NYSE:NOW)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 21.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,887 shares of the information technology services provider’s stock after selling 1,077 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in ServiceNow were worth $3,471,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. American Trust purchased a new position in shares of ServiceNow during the 3rd quarter valued at $744,000. Tidal Investments LLC lifted its holdings in ServiceNow by 104.5% during the third quarter. Tidal Investments LLC now owns 48,808 shares of the information technology services provider’s stock valued at $43,653,000 after purchasing an additional 24,945 shares during the last quarter. Blankinship & Foster LLC purchased a new stake in ServiceNow during the third quarter valued at about $1,881,000. Wilmington Savings Fund Society FSB bought a new position in ServiceNow during the third quarter worth about $3,191,000. Finally, Sfmg LLC purchased a new position in shares of ServiceNow in the third quarter worth about $226,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last three months. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Mizuho raised their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. UBS Group raised their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their target price on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,034.96.

Check Out Our Latest Analysis on NOW

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,121.10 on Friday. The stock has a market cap of $230.95 billion, a price-to-earnings ratio of 174.35, a P/E/G ratio of 6.58 and a beta of 0.99. The stock’s 50-day moving average is $1,006.82 and its 200 day moving average is $871.88. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90.

ServiceNow (NYSE:NOWGet Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the business posted $1.21 EPS. The business’s quarterly revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

ServiceNow Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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