Signal Advisors Wealth LLC Boosts Holdings in ServiceNow, Inc. $NOW

Signal Advisors Wealth LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 48.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 83,985 shares of the information technology services provider’s stock after acquiring an additional 27,399 shares during the quarter. Signal Advisors Wealth LLC’s holdings in ServiceNow were worth $8,781,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. IAG Wealth Partners LLC raised its position in ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares during the period. Noble Wealth Management PBC boosted its position in ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 128 shares during the period. Millstone Evans Group LLC boosted its position in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at about $25,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

ServiceNow stock opened at $92.96 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market cap of $95.84 billion, a P/E ratio of 55.40, a P/E/G ratio of 1.58 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The firm has a 50-day moving average of $99.62 and a 200-day moving average of $116.97.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.97. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NOW shares. The Goldman Sachs Group lowered their target price on ServiceNow from $188.00 to $163.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Raymond James Financial reduced their price target on ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Canaccord Genuity Group decreased their price target on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. JPMorgan Chase & Co. lowered their price objective on ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Finally, Capital One Financial increased their price objective on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.17.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.